
JX 1963 
. S64 
Copy 1 


AMERICANISM CONQUERS PANICS. SOCIALISM AND WAR 

Proposed Joint Resolution Inviting the Powers 
to join the United States of America in Estab¬ 
lishing a Court of Nations, a Congress of 
Nations and to provide for an International 
Army and Navy. 

That, when enacted by the Congress and executed 
by the American Government, it is submitted, will 
stop international war and produce a practical working 
solution of the Peace Question, which, aside from its 
unmeasurable beneficent humanitarian influences, is 
worth a saving to the United States of about $600,000 
a day and a much larger sum for the other forty-five 
Powers. The War Bill of the United States now 
averages over $1,000,000 per day. It is proposed to 
cut this to, say, $500,000 per day and turn the balance 
towards industry. The combined War Bills of England, 
Germany, Russia, France and the United States for 
the year 1911 averaged over $6,000,000 per day and 
now, during the war of nations according to the 
London Economist, averages over $50,000,000 per day. 


Fourth Edition, reprinted from the 1913 edition with 

additions. 


One of the Assets of the American 
Money Enterprise j 


Copyright 1915 by \ 
RODERICK H. v SMITH 

AUTHOR OF 

“Proposed Platform for The American Party, etc.” 







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JON 14 1915 


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Courteous Reader: 

The following resolution was introduced 
and referred to the Committee on Resolu¬ 
tions of the Cleveland World’s Court Con¬ 
gress : 

Resolved, by the World Court Congress, 
assembled in the city of Cleveland, O., May 
12, 13 and 14, 1915: 

That the following is recommended for 
the favorable consideration of the Congress 
of the United States of America. 

TITLE.. 

Proposed joint resolution to state the rights 
of nations and to lay the foundations for the 
establishment of a Court of hJg.|ions • a Con¬ 
gress of Nations and an International 'Army 
and Navy. 

Resolved, by the Senate and House of 
Representatives of the United States of 
America in Congress assembled: 

That the United States of America sol¬ 
emnly declares the following to be a fair 
statement of the rights of nations, the 
universal principles of justice and of right 
upon the recognition and application of which 
principles repose the security of nations 
and the welfare of peoples. 

First. That all nations are free, equal and 
independent as far as regards their rights. 

Second. That the rights of nations are 
inherent and unalienable. 

Third. That among the rights of nations 
are the rights of honor, life, liberty, inde¬ 
pendence, property, conscience, reputation 
and the pursuit of happiness. 

Fourth. That the enumeration of certain 
rights in clause three of this statement of 
the rights of nations shall not be construed to 
deny or disparage certain other rights pos¬ 
sessed by all nations. 

Sec. 2. That the United States of Amer¬ 
ica hereby cordially invites all nations 
of the Hague list, through their respective 
national legislative bodies, to join with it in 
the above statement of the rights of nations. 


Sec. 3. That the United States of AmerJ 
ica hereby announces its determination] 
to invite the several nations of the Hague 
list that affirm the above resolution in their 
respective national legislatures, to join with 
it in establishing at the Hague a Court of 
Nations for the purpose of hearing and decid-. 
ing international cases in accordance with- 
the rights of nations, a Congress of Nations' 
for the purpose of formulating and declaring 
international law consistent with the rights 
of nations, and to provide for an Interna-; 
tional Army and Navy for the purpose of 
protecting and guarding the rights of nations, 
thus ending international war forever. 

Sec. 4. That the President is hereby re¬ 
quested to transmit this joint resolution to 
the several nations of the Hague list. 

The effect of this proposed resolution is 
to form a powerful combination of nations 
about a single center, viz.:- Recognition of 
the Rights of Nations. When this plane is 
reached, it becomes easy to set up a Court 
and Congress of Nations and to provide for 
an International Army and Navy for the 
purpose of guarding and protecting these 
rights and so to end international war for¬ 
ever. If any nation negatives this resolu¬ 
tion, it thereby votes itself an outlaw and 
the • combined affirming nations easily and 
successfully can handle this situation by 
decreeing pacific penalties against such nation. 
The foregoing resolution is the first step, 
the second step is set forth in the following 
pages. 

Practical men do not undertake enterprises, 
however desirable the object in view, which 
they deem unworkable, and practical men 
have assured the writer that this enterprise 
is both feasible and workable, and, when put 
into operation, will confer upon mankind a 
greater blessing than any they have ever 
yet enjoyed. 

RODERICK H. SMITH, 

Delegate from Buffalo; 


4 


Proposed joint Resolution inviting the 
Powers to join the United States of America 
in establishing a Court of Nations, a Congress 
of Nations and to provide for an International 
Army and Navy. 

Resolved, by the Senate and House of 
Representatives of the United States of Amer¬ 
ica in Congress assembled: 

That the United States of America, in 
order to arrange and consolidate the organic 
interests of Peace for the purpose, ultimately, 
of securing the permanent extinction of inter¬ 
national war throughout the world, hereby 
cordially invites all Powers, that are sincerely 
seeking to make the noble ideal of Perpetual 
International Peace triumph over the elements 
of discord and trouble, to join with it in 
establishing, at the Hague, a Court of Nations 
and a Congress of Nations and to provide 
for an International Army and Navy, prac¬ 
tically in accordance with the plan as herein¬ 
after set forth. 

GENERAL PLAN. 

Sec. 2. That the Powers accepting this 
invitation of the United States of America, 
hereinafter called the Contracting Powers, 
by means of a General Treaty, hereinafter 
called the Compact, shall establish at the 
Hague a Court of Nations and a Congress of 
Nations and provide for an International 
Army and Navy, for the purpose of securing, 
protecting and guarding the rights of nations. 

COURT OF NATIONS. 

Sec. 3. That the Contracting Powers shall 
vest limited judicial power in a Court of 
Nations, the judges of which court shall hold 
their offices during good behavior and shall, 
at stated times, receive a compensation for 
their services, which shall not be diminished 
during their continuance in office. 

Sec. 4. That the judges of the Court of 
Nations solemnly shall be bound to apply the 
universal principles of justice and right, upon 
which principles repose the security of Na- 

5 


tions and the welfare of peoples, to the 
judicial hearing and adjudication of all cases 
coming before the Court. . 

Sec. 5. That the following is declared to 
be a fair statement of the universal principles 
of justice and right, referred to in section 
four: 

First. That all nations are free, equal and 
independent as far as regards their rights: 

Second: That the rights of nations are 
inherent and unalienable: 

Third. That among these rights are the 
rights of honor, life, liberty, conscience, inde¬ 
pendence, property, reputation and the pur¬ 
suit of happiness: 

Fourth. That the enumeration of certain 
rights in clause three of this statement of 
the rights of nations, shall not be construed 
to deny or disparage certain other rights 
possessed by all nations. 

Sec. 6. That the Contracting Powers 
jointly and severally shall contract, upon 
request which shall be honored, instantly to 
refer any international difference between 
them or any of them relating to the rights 
of nations that is declared to be incapable 
of solution through the ordinary diplomatic 
channels, to the Court of Nations, as herein 
contemplated, for a judicial hearing and 
adjudication. 

Sec. 7. That the judicial power of the 
Court of Nations shall extend to all inter¬ 
national controversies or differences relating 
to the rights of nations that diplomacy has 
proved to be incompetent to adjust; to all 
international laws that may be made by the 
Congress of Nations; to all international 
cases that may be submitted to it by nations 
not parties to this Compact; to the interpre¬ 
tation of treaties made or to be made between 
nations; to all international cases affecting 
ambassadors, other public ministers or con¬ 
suls; to all international cases of admiralty 
and maritime jurisdiction and to all other 
international differences or controversies relat¬ 
ing to the rights of nations that have proved 

6 


to be incapable of solution through the ordi¬ 
nary diplomatic channels. 

Sec. 8. That the judicial power of the Court 
of Nations shall not be construed to extend: 

First. To intruding upon, interfering or 
intermeddling with, or entangling itself in the 
political questions of domestic policy or 
internal administration of any nation: 

Second. To implying a relinquishment by 
any Republican government of its traditional 
attitude toward purely Republican or Ameri¬ 
can questions, commonly called the Monroe 
Doctrine, which is recognized, declared estab¬ 
lished, and shall not be interfered with: 

Third. To implying a relinquishment by 
any Monarchial government of its traditional 
attitude toward purely Monarchial questions, 
commonly called the European System, which 
is recognized, declared established and shall 
not be interfered with. 

Sec. 9. That the Court of Nations shall be 
open at all time to all Powers, whether or 
not they be of the Contracting Powers, for 
the judicial hearing and adjudication of inter¬ 
national cases coming before it and the non¬ 
contracting Powers, if any, earnestly are 
invited to make use of said Court, when inter¬ 
national differences not capable of solution 
through the ordinary diplomatic channels 
arise. 

Sec. 10. That the Contracting Powers shall 
not guarantee obedience to decrees of the 
Court of Nations, if any, that manifestly are 
incorrect, unjust or iniquitous, but respectively 
contract and pledge their national faith to 
accept and execute such decrees of the Court 
of Nations as are correct, just, equitable and 
righteous. 

Sec. 11. That the Contracting Powers re¬ 
spectively shall retain the fight of review of 
the decrees of the Court of Nations, if any, 
that manifestly are incorrect, and, without 
question, shall be granted a retrial when pre¬ 
senting correlative, important and decisive 
facts theretofore unknown or o^rlooked. 

7 


Sec. 12. That # the Contracting Powers re¬ 
spectively shall retain the right of appeal 
from decrees of the Court of Nations to their 
home government when such decrees, if any, 
are deemed unjust or iniquitous, which appeal, 
being sustained by the respective home gov¬ 
ernment, shall be transmitted to the Con¬ 
gress of Nations, which, upon due consider¬ 
ation thereof, and a finding for the appealing 
nation, thereupon shall reform, alter or amend 
the Court of Nations and order a new trial. 

CONGRESS OF NATIONS. 

Sec. 13. That a Congress of Nations, con¬ 
sisting of Representatives apportioned among 
the Contracting Powers on the plan of an 
Electoral College, shall be organized and 
established at the Hague and the Contracting 
Powers shall vest limited legislative power 
therein. 

Sec. 14. That Representatives, the total 
number of which shall be limited to - per¬ 

sons, shall be apportioned among the several 
Powers which may be included within this 
Compact, within ten years after the first meet¬ 
ing of the Congress of Nations and within 
every subsequent period of ten years in such 
manner as it shall direct but each Contracting 
Power shall have at least one Representative, 
and until such apportionment shall be made 
the Contracting Powers shall have Represen¬ 
tatives as follows: 

(Here follow titles of Contracting Powers 
and number of Representatives apportioned 
each for the first period of ten years.) 

Sec. 15. That the Congress of Nations 
shall assemble at least once every three years 
at the Hague, and such meeting shall be on 
May 18th, unless it shall appoint a differ¬ 
ent day, but the President thereof on extraor¬ 
dinary occasions may convene it. The Con¬ 
gress of. Nations shall be the judge of 
the qualifications of its own members. A 
majority shall constitute a quorum to do busi¬ 
ness, but a smaller number may adjourn from 
day to day and may be authorized to con- 



strain the attendance of absent members in 
such manner and under such penalties as 
the Congress of Nations may provide. 

Sec. 16. That the Congress of Nations 
shall keep a journal of its proceedings and 
from time to time publish the same, except 
such parts as may in its judgment require 
secrecy. 

Sec. 17. That every bill which shall have 
passed the Congress of Nations and been 
signed by its President, excepting bills aris¬ 
ing under the powers granted in section 
eighteen of this resolution, shall, before it 
becomes an international law, be transmitted 
and submitted to each of the Contracting- 
Powers, and, being approved by two-thirds 
of their number, shall be declared valid to 
all intents and purposes by the President of 
the Congress of Nations. 

Sec. 18. That the Congress of Nations 
shall have full power: 

First. To elect a President and other 
officers and to make rules and regulations 
for its own guidance, but the right of unlim¬ 
ited debate never shall be denied: 

Second. To adopt a great seal, a flag, and 
other distinguishing emblems: 

Third. To organize and establish a Court 
of Nations of not more than seven judges, 
consistent with the provisions of this Com¬ 
pact: 

Fourth. To appropriate moneys for the 
support of the Court of Nations and the ordi¬ 
nary expenses of the Congress of Nations: 

Fifth. To provide for calling forth the 
International Army and Navy to execute the 
provisions of this Compact: 

Sixth. To make rules for the government 
and regulation of the International Army and 
Navy when called into the service of the Con¬ 
tracting Powers and to inspect, review, and 
provide for maneuvers of the same, that it 
maj'- become practiced in working together. 

Seventh. To apportion Representatives 
among the Contracting Powers: 

• 9 


Eighth. To consider all international mat¬ 
ters of utility to mankind, and to pass resolu¬ 
tions, which resolutions, however, shall not 
have the full force of international law: 

Ninth. To take measures for the relief 
of suffering nations, and, by request, to hold 
nations in trust for the benefit of the people 
thereof for a limited period pending the 
rehabilitation of their government and fiscal 
affairs and to make use of part of the Inter¬ 
national Army and Navy as a police force 
in carrying out the trusteeship in such cases: 

Tenth. To recommend pacific penalties 
against any nation which refuses to execute 
the decrees of the Court of Nations when 
that nation, in any instance, declares such 
decree to be just and righteous. 

Sec. 19. That the Congress of Nations 
shall have limited power: 

First. To consider and prepare a code of 
international law: 

Second. To consider international com¬ 
merce, the law of carriers, bills of exchange 
and allied subjects: 

Third. To consider the international sub¬ 
ject of the safety of lives and property at sea: 

Fourth. To consider the international sub¬ 
jects of naturalization, allegiance and pass¬ 
ports: 

Fifth. To consider the international sub¬ 
jects of counterfeiting the securities and coin 
of the Contracting Powers: . 

Sixth. To consider the international sub¬ 
ject of post offices: 

Seventh. To consider the international sub¬ 
jects of weights, measures and money: 

Eighth. To consider contracts in relation 
to different nations: 

Ninth. _ To consider international questions 
of majority, evidence and law of domicil: 

Tenth. To consider the international rights 
of authors and inventors: 

Eleventh. To consider piracies and fel¬ 
onies committed on the high seas: 

Twelfth. To consider crimes against hu¬ 
manity: 


10 


Thirteenth. To consider international health 
regulations, suppression of plagues, etc., and 
the conservation of animal life. 

Fourteenth. To consider the law of aerial 
space: 

Fifteenth. To consider the rights of indi¬ 
viduals or corporations as objects of inter¬ 
national law: 

Sixteenth. To consider the law of war, 
land, maritime, aerial: 

Seventeenth. To consider the law of neu- . 
trality, blockade, contraband and unneutral 
service or hostile aid: 

Eighteenth. To consider neutral rights and 
duties in war, land, maritime, aerial: 

Nineteenth. To consider the rights of 
visit and search, of capture, and condemna¬ 
tion by prize courts: 

Twentieth. To consider the rights and 
duties of diplomatic agents and sovereigns: 

Twenty-first. To consider the rights and 
duties of consuls and consular jurisdiction in 
partially developed nations: 

Twenty-second. To consider international 
disarmament, military and naval regulations: 

Twenty-third. To consider colonization and 
discovery: 

Twenty-fourth. To consider the entire and 
permanent extinction of international war: 

Twenty-fifth. To initiate and propose all 
international laws, consistent with the rights 
of nations, which shall be necessary and 
proper for carrying into execution the fore¬ 
going powers and all other powers vested by 
this Compact in the Congress of Nations or 
any department or officer thereof. 

Sec. 20. That the Congress of Nations 
shall have no power: 

First. To intrude upon, interfere or inter¬ 
meddle with, or entangle itself in the political 
questions of domestic policy or internal ad¬ 
ministration of any nation: 

Second. To declare the relinquishment by 
any Republican government of its traditional 
attitude towards purely Republican or other. 
American questions, commonly called the 


11 


Monroe Doctrine, which is recognized, de¬ 
clared established, and shall not be interfered 
with: 

Third. To declare the relinquishment by 
any Monarchial government of its traditional 
attitude towards purely Monarchial questions, 
commonly called the European System, which 
is recognized, declared established, and shall 
not be interfered with: 

Fourth. To confer titles of nobility: 

Fifth. To make use of the International 
Army and Navy to enforce the decrees of the 
Court of Nations: 

Sixth. To acquire lands, other than a dis¬ 
trict not over one mile square at the Hague. 

Sec. 21. That each of the Contracting 
Powers shall fill its representation in the 
Congress of Nations, accordingly as each 
respective Power may select -and shall main¬ 
tain the same at its own expense. 

INTERNATIONAL ARMY AND NAVY. 

Sec. 22. That the Contracting Powers shall 
provide an International Army and Navy. 

Sec. 23. That the President of the Con¬ 
gress of Nations shall be Commander-in- 
Chief of the International Army and Navy 
when called into the service of the Contract-; 
ing Powers. 

Sec. 24. That each of the Contracting 
Powers, constantly, shall keep in first-class 
condition and readiness the land and sea 
forces, the total of which constitutes the 
International Army and Navy, set opposite 
'its respective title in the following enumera¬ 
tion, which shall be subject to the orders of 
the Congress of Nations in accordance with 
the provisions of this Compact. 

(Here follows an enumeration of the land 
and sea forces of the Contracting Powers, 
constituting the International Army and 
Navy.) 

Sec. 25. That any interposition for the pur¬ 
pose of oppressing or in any other manner 
controlling the destinies of any of the Con¬ 
tracting Powers or their dependencies by any 

12 


of the non-contracting Powers and which 
latter, in times of critical differences between 
them, or any of them, and the Contracting 
Powers respectively, have neglected or refused 
to make use of the good offices of the Court 
of Nations, is declared to be contrary to 
international law and cannot be viewed in any 
other light, but as the manifestation of an 
unfriendly disposition toward the allied Con¬ 
tracting Powers, which, in such an event, 
authorize and direct the Congress of Nations 
or the President thereof, when the Congress 
cannot be convened, instantly to call out and 
set in motion against the offending Power 
or Powers, the entire International Army 
and Navy, or any part thereof, to protect 
and defend the public rights of mankind. 

MISCELLANEOUS PROVISIONS. 

Sec. 26. That the Judges of the Court of 
Nations and the Representatives of the Con¬ 
gress of Nations shall be entitled to all the 
privileges and immunities of ambassadors 
and other public ministers; shall be privileged 
from arrest during their attendance at the 
sessions of the Court and Congress of Na¬ 
tions, and in going to and returning from 
same; and for any judicial decision, speech 
or debate, had while attending to their re¬ 
spective duties, shall not be questioned in 
any other place. 

Sec. 27. That powers not delegated or 
denied the Court of Nations and the Congress 
of Nations by this Compact are reserved to 
the Contracting Powers, respectively. 

Sec. 28. That Powers not parties to this 
Compact, upon request, may be admitted 
thereto by the Congress of Nations under 
such rules and regulations as it may pre¬ 
scribe. 

Sec. 29. That the yearly budget of the 
Court of Nations, and the Congress of 
Nations, shall be borne by the Contracting 
Powers in proportion to their representation 
in the Congress of Nations. 

Sec. 30. That the Congress of Nations, 
when it is deemed necessary, by a two-thirds 


13 


vote, may propose amendments to this Com¬ 
pact which shall be valid to all intents and 
purposes when ratified by three-fourths of 
the Contracting Powers, and no Contracting 
Power without its consent shall be deprived 
of its proportionate suffrage in the Congress 
of Nations. 

Sec. 31. That this Compact, may be de¬ 
nounced, one year’s notice being given the 
President of the Congress of Nations and by 
him transmitted to the Contracting Powers; 
but the Power denouncing this Compact for¬ 
feits its right of protection by the Interna¬ 
tional Army and Navy, and no intelligent 
reason, based on truth and virtue, being 
rendered for such denunciation, the Congress 
of Nations may recommend to the Contract¬ 
ing Powers that it be deprived of the privil¬ 
eges and immunities allowed ambassadors, 
other public ministers and consuls under inter¬ 
national law, and the Congress of Nations in 
such cases may recommend other or addi¬ 
tional pacific penalties. 

Sec. 32. That the United States of America 
undertakes to pay into the treasury of the 
Congress of Nations as herein contemplated, 
upon the day of its first meeting, the sum of 
one million dollars as a nucleus expense fund. 

Sec. 33. That, before entering on the execu¬ 
tion of his office each official acting under this 
Compact shall take the following oath or 
affirmation: 

“I do solemnly swear, (or affirm) tfcat I will 

faithfully execute the office of.4 

and will, to the best of my ability, preserve, 
protect, and defend this Compact.” 

Sec. 34. That the President is hereby re¬ 
quested to transmit the foregoing invitation 
and plan to the several Powers of the world, 
and, being accepted in principle by thirty or 
more of the Powers, to negotiate, by and 
with the advice and consent of the Senate, a 
general treaty, hereinbefore called the Com¬ 
pact, with such accepting Powers, practically 
in accordance with the plan as hereinbefore 
set forth, and so establish a Court of Nations, 

14 



a Congress of Nations and provide for an 
International Army and Navy. 

REVIEW. 

William .Ladd, President of the American 
Peace Society, in his work, “Prize Essays on 
a Congress of Nations,” Boston, 1840, put 
forth the idea of a Congress and Court of 
Nations. On page 535 of his work he hints 
at an International Army and Navy. The 
author has adopted Mr. Ladd’s plan and has 
brought it up to date. Among the judges of 
these essays were Joseph Story, William Wirt, 
John McLean, Thomas S. Grimke, John 
Quincy Adams, Chancellor Kent, Daniel 
Webster. The author first read this work in 
October, 1911, and was surprised and pleased, 
for it is a pleasure to be in accord with a 
mind of such distinguished attainments, to 
find that, independently, he had reached prac¬ 
tically the same results with some additions 
and improvements, which have been published 
in previous pamphlets, that the Seer had 
reached many years ago and has made use 
of his work, as the Seer directed those who 
came after him to do, in perfecting the 
present booklet. 

Look at the effect of this “Proposed Reso¬ 
lution to establish a Court of Nations and a 
Congress of Nations and to provide for an 
International Army and Navy.” Any nation 
that wilfully ruptures pacific relations, having- 
neglected or refused to make use of the good 
offices of the Court of Nations, fights the 
whole world, and, therefore, has no chance 
to win. This situation being secured, the 
nations will be constrained to cut down arma¬ 
ments and military and naval forces, as they 
practically become useless and the larger part 
of the moneys now appropriated for these 
purposes, over one million dollars a day in 
the United States and over $10,000,000 per day 
for all the nations in times of peace can be 
turned towards industry and commerce. Inter¬ 
national war thus is abolished. Can there be 
a more glorious consequence of human policy? 

15 


Nine out of ten of the decent people of 
Christendom will support this Congress and 
Court of Nations plan when they understand 
it. There are forty-six Powers in the world. 
Thirty Powers, however, joining the United 
States will make the plan a complete success, 
and it is believed that thirty nations gladly 
will join the United States in establishing the 
Congress and Court and probably a larger 
number. The plan is attractive to the smaller 
Powers for the reason that it preserves their 
territorial integrity and to the larger nations 
because, when adopted, they can cut down 
war budgets. As international war is the con¬ 
cern of nations, its abolition requires the 
concurrence of nations. 

HAGUE LIST OF NATIONS. 

1. Germany. 2. United States of America. 
3. Argentine Republic. 4. Austria-Hungary. 
5. Belgium 6. Bolivia. 7. Brazil. 8. Bul¬ 
garia. 9. Chile. 10. China. 11. Colombia. 
12. Costa Rica. 13. Cuba. 14. Denmark. 
15. San Domingo. 16. Ecuador. 17. Spain. 
18. France. 19. Great Britain. 20. Greece. 
21. Gautemala. 22. Haiti. 23. Honduras. 

24. Italy. 25. Japan. 26. Luxemburg. 27. 
Mexico. 28. Montenegro. 29. Nicaragua. 

30. Norway. 31. Panama. 32. Paraguay. 

33. Netherlands. 34. Peru. 35. Persia. 36. 
Portugal. 37. Roumania. 38. Russia. 39. 
Salvador. 40. Servia. 41. Siam. 42. Swe¬ 
den. 43. Switzerland. 44. Turkey. 45. Ur-, 
uguay. . 46. Venezuela. 

LIST OF LESSER POLITICAL CENTERS. 

1. Abyssinia. 2. Ethiopia. 3. Liberia. 4. 

Morocco. 5. Monaco. 6. Republic of San 
Marino. 7. Republic of Andorra. 8. Licht¬ 
enstein. 9. Afghanistan. 10. Annam. 11. 
Crete. 12. Egypt. 13. Tunis. 14. Zanzi¬ 
bar. 15. Soudan. 

THE CREDIT OF NATIONS. 

Public debt of Nations, (funded and un¬ 
funded debt combined). Figures furnished by 

16 


Bureau of Statistics, Washington. Year 1909, 
in most cases. Quotations from London 
“Economist” Oct., 1911. 

Austria-Hungary, $3,171,223,521. Austrian 
4’s; 95 to 97%. Hungarian 4’s; 92 to 95%. 
Population 50,000,000. 

Italy, $2,602,299,757. Rentes 3^4% int.; 98 
to 100%. Population 34,000,000. 

Japan and Korea, $1,305,9.01,499. Japan 4’s; 
90 to 91%; 4J4*&; 97 to 98%; 5’s, 103%. Popu¬ 
lation 53,000,000. 

Portugal, $864,561,212. Portuguese 3’s, 65 
to 66%. Population 5,400,000. 

Swedish 3’s, 79 to 82%; Norwegian 3’s, 80 
to 82%; Danish 3’s, 82 to 86%. Dutch 3’s, 81 
to 84%. Servian 4’s, 86 to 89%. 

France and dependencies, $6,024,585,984. 
French 3’s, 92 to 94%. Population 39,300',000. 

German Empire and States, $4,270,488,716. 
Imperial loans 3’s, 7914 to 80^4%; Prussian 
Con. 3 X /£’s, 90 to 92%; Prussian Con. 3’s, 80 
•to 82%. Population 60,000,000. 

Russia, $4,558,152,565. Russian 3’s (1859), 77 
to 80%; Con. R. R. 4’s, 92 to 96%; Transcau. 
3’s, 76 to 78%; Loan (1906) 4j4’s, 100 y A % bid. 

Spain, $1,817,674,327. Spanish 4’s, 88 to 89%. 

United Kingdom, $4,369,329,669. Consols 
2^4’s, 78%. 

United States, funded debt (1909), $913,317,- 
000. Unfunded debt, $110,544,041. Philippine 
bonds, $16,000,000 United States 3’s, 102%. 

Total national debt of forty-six Powers is 
$39,343,079,476, most of it incurred for war. 
Interest at 3% equals $1,180,292,384 per annum 
or $3,261,075 per day. War is a business 
question. The more war, the more bonds, 
and generally, the lower the price thereof. 

WAR BILLS OF NATIONS. 

What are the nations spending yearly for 
purposes connected with war? Look at the 
appropriations. Information furnished by 
Bureau of Statistics, Washington, D. C. 

17 


UNITED STATES APPROPRIATIONS, 
61ST CONGRESS, 1911. 


For support of the Army. $ 95,440,567 

For the Naval Service... 131,410,568 

For Forts and Fortifications... 5,617,200 

For support of Military Academy 1,856,249 

For pensions . 155,758,000 

For interest on war debt (est.) 16,000,000 

For amortization • of war debt.. (Nothing) 


Total . $406,082,584 

The same items for the years noted give 
the following expenditures: 

1907 War Bill. $336,853,055 

1908 War Bill. 348,563,803 

1909 War Bill.... 407,260,111 

1910 War Bill. 525,740,714 

1911 War Bill. 406,082,584 


Total for five years.$2,024,500,267 


or an average of $1,109,315 per day for the 
period covered. 

War bills of five nations covering the 
same items for the year 1911 (or about), 
compiled by the author from information 
furnished by the Bureau of Statistics, Wash¬ 
ington: 

United States . $406,082,584 

United Kingdom . 412,309,000 

Germany . 419,366,000. 

France ..,. 475,020,000 

Russia . 539,481,000 


Total ..$2,252,258,584 

or over $6,000,000 per day for these five 
nations combined.* The war bills of the 
other forty-one Powers are . at present 
unknown. This fruit looks ripe. Harvest 
time is near. 

*This and the foregoing chapter are printed 
unchanged from the 1913 edition and serve to show the 
debts, prices of government stocks, and war bills of 
nations in times of peace. The present war of 
nations, manifestly, has largely increased the debts 
and war bills of nations and lowered the price of 
government bonds. 


18 





















Sir Edward Grey recently declared in the 
House of Commons: “When you begin to 
make hunger by taxation, as sooner or later 
will be the case if naval and military 
expenses of every country go on increasing, 
then you will be within a measureable dis¬ 
tance of a revolt that will put a stop to it; 
that is the direction in which the great coun¬ 
tries of the world are tending.” Again he 
declared: “If this tremendous expenditure for 
armament goes on, it must in the long run 
break down civilization.” 

Now it is proposed, by enacting the fore¬ 
going resolution and carrying out this plan, 
to turn, in time, this unproductive expenditure 
largely into a productive one, a proposition 
that must prove to be not without interest 
to all moderate men. ^he arrest and lessen¬ 
ing of armament expenditures and the reduc¬ 
tion of war budgets will add enormously to 
the prosperity of all nations, and the estab¬ 
lishment of the Congress and Court of 
Nations by ensuring the security and stability 
of peace will raise public credit, lessen pov¬ 
erty, tend to reduce the high cost of living, 
while at the same time freeing more money 
for productive enterprises in all parts of the 
world. The nations will hail with enthusiasm 
this proposed emancipation from war. 


OBJECTIONS AND ANSWERS. 

You are concentrating too much power in 
the hands of a few men. 

Physical power to enforce the decrees of 
the Court of Nations forms no part of this 
plan. It is believed that the Court will be 
sufficiently elevated to impose its jurisdiction 
upon nations, relying solely upon, the cor¬ 
rectness and impartiality of- its decisions and 

19 


the honor and justice of the nations con¬ 
cerned. The power of the Court in this 
regard is to be moral power alone. 

The decisions of this Court, declaratory of 
the application to international disputes of 
the great universal principles of justice and 
right and establishing by these decisions the 
reign of universal peace, it is believed, will 
produce a moral effect altogether resistless. 
A Court composed of the earth’s greatest 
and best men, venerable by their years, re¬ 
nowned for their learning, revered for their 
probity, an authorized international tribunal, 
decreeing a righteous decision of an inter¬ 
national dispute, in accordance with an inter¬ 
national code of law, accompanied by the 
reasons for that decision and appealing solely 
to national honor and justice, would be 
clothed with an overwhelming weight of 
authority. To suppose that nations would 
not heed a decision of this kind would be an 
impeachment of their high character and an 
insult to their fair fame. 

On the contrary, should a decision of the 
Court clearly be incorrect or iniquitous, noth¬ 
ing short of absolute resistless force could 
compel obedience, whatever might be the 
nominal parchment obligation; but, if the 
decision be equitable, no coercion will be 
needed. Without the provisions set forth in 
sections 10, 11, 12, 13 and 31 no international 
compact of this nature would be safe, and 
with these provisions none can be dangerous. 
Consequences the most disastrous may be 
developed by time, not dreamt of in the 
beginning, which would render these pro¬ 
visions indispensable to the political safety 
of some of the Contracting Powers; but what¬ 
ever may be the power of the Court, no 
settled, _ deliberate system of injustice or 
oppression can be matured and perfected 
while the intended victim itself is armed 
with power to arrest it effectually. No 
detriment, therefore, can arise from this 
source to national independence, no daring 
innovation is made upon existing establish- 

20 


merits, no reckless experiment unauthorized 
by the success of previous experience. 

What is to prevent an instantaneous and 
total dissolution? 

What holds the mountains upon the earth’s 
surface or the earth herself in her orbit? 
There is a power, a principle of moral gravi¬ 
tation, called the law of evolution, a great 
centripetal force, tending to draw men and 
nations into permanent union. Have not 
primitive families thereby been collected into 
clans, clans into tribes, tribes into communi¬ 
ties, communities into cities, cities into feder¬ 
ations, federations into nations, and nations 
even already into a sort of imperfect repub¬ 
lic? Has not all this been done, in spite of 
many formidable obstacles; and, if this sys¬ 
tem can be but once completed, will not the 
power which is sufficient to call the union of 
nations into being preserve it, unless torn 
asunder by some extraordinary violence? 
It will not, therefore, be necessary to bring 
in extraneous force to bind, but rather to 
avoid, by the use of force if necessary (see 
section 25), whatever will dissolve, rend, or 
destroy. If left to itself, unassisted, undis¬ 
turbed, this power of moral gravitation, this 
law of evolution, without the need of iron 
bands, and from the principles of its own 
nature, will hold the nations in their 
appointed orbits, and, like the mighty planets 
which obey the simple laws of their being, 
allow the union of nations permanently to 
assume the form and structure of lasting 
stability. We do not disregard, attempt to 
counteract, dispense with, or baffle this law 
of evolution. On the contrary, we recognize 
it and go with it, allowing all things to 
remain at their natural level and equilibrium, 
plainly seeing that every constraint on this 
order of nature implies violence, and this, 
when sufficiently aggravated, produces con¬ 
vulsion and disaster. It is believed that a 
sufficient number of nations are within the 
sphere of moral gravitation to be attracted 
by this great central American sun. When 

21 


Sir Isaac Newton published his “Principia” 
not more than ten men in the world could 
understand what he was talking about. Now¬ 
adays, certainly, a much larger number will 
recognize this natural law of evolution, which 
is working to bring about the world state—• 
the federation of nations.. No man, no body 
of men can stop evolution any more than 
they can stop the world from revolving. Get 
in accord with this tremendous force .which 
has built the nations and is now working to 
bring about their federation. Help it along. 
The machinery to do this is here provided. 
The force that has built the nations will 
hold them together when the Court and 
Congress of nations is established. 

There is no provision for enforcing the 
decrees of the Court of Nations. 

Such a provision is not necessary. The 
laws of the Congress of Nations are not valid 
unless ratified by the Contracting Powers, and 
the nation which refuses to be bound by 
these laws refuses to be bound by laws which 
the nation itself has made. It never will do 
to establish a world sovereign system of 
international government and endow it 
with tremendous physical power above that 
of the individual nations. This has been tried 
on a small scale in the Amphictyonic Coun¬ 
cil of ancient Greece, and Alexander the 
Great, controlling the Council, used it for his 
own purposes. The individual Powers must 
remain free, equal, and independent. The 
Court of Nations is inferior to the Supreme 
Court of the United States, as far as Amer¬ 
icans are concerned. The American Congress 
has power to constitute tribunals inferior to 
the Supreme Court. The plan, therefore, is 
constitutional. 

Some men won’t accept peace unless they 
are dynamited into it. 

News item:—Newport, R. I., July 25, 1912. 

Theoretically the United States lost half a dozen of 
its biggest battleships today in an engagement with 
submarines. These battleships, the Florida, Delaware, 
North Dakota, Utah, Louisiana, and Kansas, making 
up the first and second divisions of the Atlantic Fleet, 


22 


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ptM ‘sssodjnd ’SupqSij joj ;dssxs ‘ssusjjBq 
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sq; qsiqM* Supsnpuos joj sspqisBj sq; ‘s;usui 
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jo uuoj ;BqM SAVonq iCpoqou ‘jsjig ‘XIBS 
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-qns ;usssjd ’ sq; ‘jSASMoq ‘op ubs* ssuijBin 
-qns ;BqM SuiMoqs si suopBu jo jbm .sqx 

f /;qSij£ep pBOjq ui usas 
5jsb;;b XjpBsp b jsAijsp ubs suiJBiuqns sq; puB 
‘sXs suBjdojsB sq; uiojj jjss;i spiq ubs ;ssjj 
ojsj -ssuiJBiuqns Aq ps;ss;ojd iCjsjBnbspB sbm 
;Bq; ;sbos b jo ;qSis uiq;iM sraos 3JBp ;on 
pjnoM sdiqsjByVV usjBM’sq; jo do; uo uiims 
;Bq; sdiqs sq; jo jfcpjpn sq; q;iM Xbayb suop 
Xjsjpus,, bCsJsg -JiS s^bs ,/sBq js;bm jspun 
uiims ;Bq; sjssssa jo uoi;snpoj;m sqx,, 

•s;q£nou 

-pBSjp qsi;ug sq; jo ssiajss unS-Siq sq; 
Supssjjsd ‘p’jbmo; qsnrn os pip oqM Xsj’sg jig 
sbm ;t ssnBSsq uopus;;B spiM psAisssj sABq 
siBqsjB Suiraossq ‘;sbj sjb * sdiqssj;;Bq ;Bq; 
;;osg iCsjsj Jig Aq suopJsSSB ;usssj sqx 

•aureS jbm jbabu b ui sadoasuad Auiump 
io asn aq; jo aauB;sui ;sjij aq;* aq o; pres si ;j 
•sdiqsaqjBq aq; japun ;souqB dn aurea puB sjaAoj;sap 
io auq aq; japun paAip sauuBuiqns jBaj aqi j^obub 
io joa'fqo aq; apBui Suiaq aaaM saiuiuinp asaqj spq^ 
puB ‘sdiqsa^iJBq aq; SuiAiaaap jo asodjnd aq; joj 
;B opB ;as pBq „Auiaua,, aq; qoiqAV ,/saiiuuinp,, aq o; 
p^AO-id sadoosuad pasoddns asa'q; ;ng -raaq; SuqqB 
-sip o; uoi;ua;;B paujn; spssaA aq; puB sauuBuiqns 
SiiiqoBOjddB jo sadoas aq o; paJBaddB ;BqiA pajaAoasip 
uo;bm uo uaui aq; Ajuappns ,/Auiaua,, aq; joj ;jojb 
au; uo ttb ‘sjaAojjsap ;Boq-opadjo; g; ;noqB jo uaaaos 
b Aq papunojjns ojoav Aaqj, # sauiJBiuqns aq; jo 
qaB;;B aq; Sui;jbavb Abq; ;;asuBSBjjBjq; jo apis;no ajaM. 

23 


or 60 feet, or whatever it may be set. This 
latter device will make these boats as safe or 
safer than ordinary boats. When these im¬ 
provements are worked out, and there are no 
difficulties here, the Dreadnoughts will go 
to the scrap heap. It has always seemed 
strange to the writer that the peace advocates 
have not gone to Congress before this with 
the platform, “Not one cent for Dread¬ 
noughts, but millions for the development of 
the submersible boat.” These boats, effec¬ 
tively, cannot fight each other, because they 
cannot find each other, but when developed, 
they easily can sink anything that floats. 
Thus, eventually, the nations will be forced 
to use the Court of Nations, amicably to 
adjust their differences, because they cannot 
fight any longer or transport troops on the 
sea. 

Yoilr plan is not new. 

Who said it was? The American Peace 
Society, organized May 8th, 1828, in a circular 
letter then issued, advocated a Congress of 
Christian Nations. On May 11th, 1830, a 
Boston gentleman, not a member of any peace 
society, presented a paper, to which he had 
obtained signatures, to the annual meeting 
of the American Peace Society in which a 
Court of Nations was advocated as a means 
'for the abolition of war. William Ladd com¬ 
bined the Court and Congress of Nations 
ideas in his plan published in 1840. Mr. Ladd 
did not put his project in practical shape for 
Congressional, action, nor anybody since as. 
far as the writer knows. This work is here 
completed. Congress can not act except by 
means, of a resolution, bill or treaty. The 
foregoing resolution makes this business prac¬ 
tical. Eighty years is long enough to discuss 
this matter. We want a little action. 

Mr. Ladd declared: “It is the authof’s 
earnest desire, that what he has written may 
encourage other and abler writers to illu¬ 
minate this most interesting and important 
subject with the strong, light of genius and of 
learning and that in the process of time the 

24 


Almighty will raise up wise and powerful 
rulers, through whose recommendation and 
effort, this peaceful system, herein developed, 
may be carried into active and successful 
operation. He whose hands shall contribute 
to the accomplishment of this glorious result, 
when leaving the scene of his labors, may 
well take up the grateful exclamation of the 
patriarchal Simeon—‘Now Lord, lettest thou 
thy servant depart in peace for mine eyes 
have seen Thy salvation’.” 

Is war ever justifiable? 

In some cases, yes. War is the last remedy 
against injustice. Civilized warfare requires 
a just cause of complaint and follows the 
denial of reasonable satisfaction. War under¬ 
taken without just provocation is a crime. 
Nothing short of the violation of a perfect 
right justifies war, nor even this until pacific 
measures have been in vain resorted to. Human 
wisdom has established tribunals to settle the 
controversies of individuals but no real court 
has yet been established to adjust the dis¬ 
putes of nations. It is this Court of Nations 
that a large, growing and respectable portion 
of the peoples of the world advocate. 

Your plan is all theory. 

Is it? The plan now is in practical and 
successful operation' in the United States. 
You never hear of the State of New York 
making war on Pennsylvania. Why? Be¬ 
cause the other forty-seven states would say 
to the State’of New York: “You quit, take 
your case to the Supreme Court/’ The same 
illustration applies for each individual State, 
consequently there is permanent peace 
between the several States. A massive intel¬ 
lect is not required to bring about a sorae- 
iwhat similar relative position between nations 
as now exists between the several states of 
the Union. There are no difficulties here. It 
is for the interest of every nation to keep 
all the other nations at peace. This, the 
international army and navy insures. 

25 


The Congress of Nations would be com¬ 
posed of men speaking different tongues. 

Heretofore men of different races and 
tongues have had no difficulty in understand¬ 
ing each other whenever they have had a 
chance to meet and talk things over. The 
Congress of Nations will be a permanent 
authorized world’s Parliament, crystallizing 
into one body the learning, wisdom, experi¬ 
ence and statesmanship of which the hundreds 
of international conventions, heretofore held, 
have been only the precursors. 

“God hath made of one blood all nations of 
men for to dwell on all the face of the earth.” 
•—(Paul on Mars Hill.) It is coming. 

You say that one state of the United States 
dares not fight another state because the bal¬ 
ance of the states won’t allow it. How about 
the civil war? 

Before and after the civil war the Consti¬ 
tution has maintained permanent peace be¬ 
tween the several states. It is doing it now. 
The civil war sought to break the Constitu¬ 
tion which makes the United States a nation 
but failed to do so. If the Continental Con¬ 
gress had followed Washington, Adams, Jef¬ 
ferson, Hamilton, in all their plans there 
never would have been a civil war; It is a 
fact, not generally known, that the Declara¬ 
tion, as originally introduced in the Conti¬ 
nental Congress, contained a strong clause 
against slavery and the slave trade. This 
was struck out by the committee of Congress 
to which the Declaration had been referred. 
Thus the anti-slavery movement was strangled 
in 1776. Jefferson remarked that: “Many 
southern members possessed slaves while 
many northern members owned the ships 
that carried them.” The business interests 
of that day were against the anti-slavery 
clauses. Eighty-five years later this question 
was fought out on the battle field. We have 
here an object lesson of what happens when 
ypu leave American principles. Hold fast to 
the Declaration and the Constitution in their 
true sense and necessary import and you 

26 


get along all right. Leave them and every¬ 
thing goes wrong. 

Double the American Army and Navy. 

To do this would cost thousands of mil¬ 
lions of dollars, continue the war policy and 
eventually involve the United States. Why 
not adopt the alternative policy? Form a 
combination of nations. This costs nothing, 
stops international war and gives us the per¬ 
manent peace of the world. 

Would not this plan permanently fix the 
territorial area of each nation? 

Not necessarily. This plan certainly stops 
wars of conquest but there are peaceful 
methods by which a nation may acquire or 
dispose of lands and these ways are left 
open. The United States acquired the Louis¬ 
iana tract by purchase, also Alaska. If the 
people of Cuba should request the United 
States to be taken into the Union as a state, 
this could be arranged peacefully. Land 
transfers between nations can be peacefully 
arranged the wishes of the people inhabiting 
the territory being first considered. 

If your peace system had been in opera¬ 
tion the present war of nations would not 
have been possible. 

You are right. The foregoing Court of 
Nations resolution, outlined in booklet, "Pro¬ 
posed Platform for the American Party” 
(1907), was first printed in 1911. Copies of 
the third edition of the Court of Nations 
booklet were mailed to each Senator and 
Congressman in the spring of 1913. The 
writer has sought to bring this plan to the 
attention of the leaders of nations through¬ 
out the world. It seems to be the only 
practical way out of the difficulty. 

We want arbitration. 

The events of August, 1914, demonstrate 
that arbitration is a complete failure. Inter¬ 
national war cannot be stopped by politely 
requesting the nations to refrain from fight¬ 
ing. You must have an overwhelming mil¬ 
itary and naval force to constrain the Powers 
to use the Court of Nations. Under this plan 
international war is declared unlawful. A 

27 


combination of nations is proposed, so 
powerful that it can say to nations refusing 
to use the Court: “Die Waffen Nieder.” 

No living man can stop war. Nations 
won’t consider your proposition. They want 
to fight. 

Give us the votes in the House and the 
Senate to pass the Rights of Nations resolu¬ 
tion and the American people will stop 

international war. 

In Section 18, clause nine, you provide for 
a sort of political hospital for sick, suffering 
or partially developed nations. 

Certainly, a valuable feature and one that 
has been tried out and found to work success¬ 
fully in Cuba. The plan is, get a request; 

hold in trust; fix it up; let it go. The 

Supreme Court, in the Neely case, Justice 
Harlan speaking, declared that Cuba was held 
in trust by the United States for a certain 
definite purpose. The plan worked well, not 
a single Cuban was killed by an American 
bullet and vice versa, while trade has multi¬ 
plied many times as the record of exports 
and imports testifies. This plan was sug¬ 

gested for the Philippines but failed of adop¬ 
tion, hence the Philippine war. A similar 
plan was suggested to President Roose.velt and 
partially worked out as regards San Domingo. 
Again, the plan was presented to Presidents 
Taft and Wilson as regards the treatment of 
Honduras, Nicaragua, Mexico or other suf¬ 
fering republics. Nothing done. It can be 
used by the Congress of Nations to care for 
weak or undeveloped states. 

I am mayor of this city, why should I be 
interested in this peace plan? 

The war bill of the United States in times 
of perfect peace averages about $4 per 
capita per annum. It is estimated that this 
peace plan will save $2 per capita per annum. 
Buffalo, population 500,000, saves $1,000,000 
per annum; Chicago $5,000,000 and New York 
$10,000,000 per annum. There is some busi¬ 
ness here. 


28 


Why is war tolerated? 

Because people do not understand how to 
get rid of it. The Hon. Frank O. Smith, of 
Maryland, recently declared in the House of 
Representatives: 

“If the American people find that there is 
a practical way of assuring permanent peace 
and that they have the gift in their own 
hands to bestow, with no loss to themselves 
but with decided material gain, and that by 
so doing they can secure for their Nation the 
glory of the most brilliant, most beneficent 
national deed in history, and thus perman¬ 
ently enthrone her in the place of honor 
among the nations, they will not be so 
drowsy, so negligent, so unpatriotic as to let 
the opportunity slip. All that is needed is 
to bring the plan to their attention.” 

Here is the plan. Enact the Rights of 
Nations resolution in the American Congress, 
and afterwards the Court of Nation’s resolu¬ 
tion, get the nations in, and the great work 
is accomplished. The nations are looking to 
America to lead. This plan is so simple 
and the evils to be remedied so great that 
the only difficulty seems to be in making; 
men believe that so great a cure can bej 
performed by such simple means. 

Modern life is a money game, all play it, 
even the ministers. Why waste time in the 
pursuit of peace plans that, even if they are 
practical few appreciate? Get the money. 

“All men on whom the Higher Nature 
has stamped the love of truth should especi¬ 
ally concern themselves in laboring for pos- 
terity, in order that future generations may 
be enriched by their efforts, as they them¬ 
selves were made rich by the efforts of 
generations past. For that man who is 
imbued with public teachings, but cares not 
to contribute something to the public good, 
is far in arrears to his duty, let him be 
assured; he is, indeed, not ‘a tree planted by 
the rivers of water that bringeth forth his 
fruit in his season,’ but rather a destructive 
whirlpool, always engulfing and never giving 
back what it has devoured.”—Dante. 


29 


The solution of the peace question for the 
world, is this all you are doing? 

Is not this enough? 

Where did you learn all this? 

Second Reader, partly. 

The army and navy officers will be 
against this project. 

Not so. The army and navy officers do 
not desire to pose as military leeches, being 
honorable men engaged in an honorable pro¬ 
fession. Establish the Court of Nations and 
these officers have the opportunity to assist 
in rapidly hastening forward the progress of 
the world. 

Your peace plan is feasible and perfectly 
practical if you can get the nations to come 
in. Will they come in? 

Certainly they will come in. The first step 
is the Rights of Nations resolution, which, 
when accepted by the nations, and no nation 
is likely to negative it, forms a powerful 
combination of nations about a single center, 
viz.: Recognition of the Rights of Nations. 
When this plane is reached it then becomes 
easy to set up a Court and Congress of 
Nations, as hereinbefore set forth, to guard 
and protect the rights of nations and so 
stop international war forever. This plan is 
simplicity itself. 

You have against you the armament firms 
and the armor-plate press, which are in 
league with large financial interests. What 
can one man do? 

Take a fall out of them. They don’t dare 
fight in the open. Their position is an inde¬ 
fensible one. The evil influences of those 
who live by discord and by fomenting dis¬ 
cords are at work all over the world. The 
budgets of nations are armor-plate budgets. 
Out of every one hundred dollars received by 
the United States, postal business excluded, 
about seventy dollars is paid out for pur¬ 
poses connected with war. England, France, 
Germany, Russia, Austria, there are no excep¬ 
tions, have the same disease even in times of 
peace. In far off China, even, agents of arma- 

30 


ment firms _ swarm in the Capital anxious 
to sell their wares, while financial groups 
advance millions without a sign that they 
are to be used for the real benefit of the 
people who are burdened with interest and 
repayment. The peace army is not one whit 
afraid of those who, surrounded by their 
bankers and newspapers, have made vast for¬ 
tunes in selling battleships, cannon, arms and 
ammunition and who pursue the policy of 
fomenting international bitterness, endeavor¬ 
ing to hurl hundreds of thousands of men 
at each other’s throats that they may make 
millions, each dollar red with human blood 
and wet with human tears. 

We depend for the success of our enter¬ 
prise upon the great middling class, who in 
respect of property ar£ neither poor nor 
rich, in respect to knowledge are neither 
learned nor ignorant and who in respect to 
numbers and political power far outweigh 
and exceed the extreme divisions of society. 
These are the men, the soldiers of industry, 
who, when properly organized and rightly led, 
will put a stop to the great games of princes 
and of statesmen played at an infinite cost of 
blood and of treasure and lead our enterprise 
to a most felicitous and honorable conclu¬ 
sion. A community embracing the farmer, 
the manufacturer, the merchant, the mechan¬ 
ic* the trader, the banker, the broker, the 
members of the several liberal professions, 
those engaged in transportation on sea and 
land and the minor business men, all peace¬ 
fully, privately, actively and usefully engaged 
in those arts, crafts, professions, employments 
and business, which so directly and so effec¬ 
tually tend to promote, extend and establish 
a highly cultivated and refined state of civili¬ 
zation— these are the men, the soldiers of 
industry, who now have the honor of offer¬ 
ing to the world in the shape of a practical 
legislative measure this truly rational policy, 
which a more enlightened and developed pos¬ 
terity will elevate far above the renown of 
violent revolutions and extensive conquests 

31 


waged on phosphorescent battle fields, and 
to their beloved country, these men will add 
the imperishable glory of first having made 
practical this merciful refuge of peace. 

The Peace Army has no friends but reason, 
right and justice, no enemies but their adver¬ 
saries, therefore, let this band of powerful 
business giants, notorious for their insolent 
and peremptory brevity of speech and violent 
and tumultuous carriage, straddle themselves 
quite over the whole breadth of the way, 
shake their fists at the sun, swear by their 
infernal dens that they will spill the. souls 
of all Americans on this peace pilgrimage, 
if all this gasconading will do them any good 
but. let the Peace Army, the soldiers of 
industry, organize, unite, assist, exult, cheer 
and charge for the triumphant realization 
of the principles of Humanity throughout 
the world. 

Your peace plan does not interest me a bit 

Naturally and necessarily so, nobody can 
pour a quart into a pint cup. 

Those who favor arbitration stand in the 
way of the world’s progress. 

Certainly. The Kruppists can afford to 
subsidize the arbitration advocates who pre¬ 
sent an impracticable plan for stopping war. 
Arbitration misleads many people who thus 
become an easy mark for the militarists who 
feed them with words, who keep the word 
of promise to their ear but break it to their 
hope. Doctor Frank Crane declares: 

“Militarism means in plain English that a 
nation should maintain sufficient armed forces 
to settle any international dispute by its own 
power. 

“That is the tomfool theory upon which the 
nations of the world now do business. 

“Don’t get mixed up. Think straight. And 
you must see: 

“1. That it’s nonsense to talk of disarming 
or even lessening the burden of military pre¬ 
paredness until you can kill that theory that 
each nation shall execute justice for itself. 

“2. That there can never be disarmament 


32 


except by delegating the settling of dis¬ 
putes to some central body. 

“The only possible remedy is for the nations 
to federate, to get together and agree that all 
quarrels shall be settled in court and by law. 

“This carries with it a corollary, that no 
nation shall be allowed to maintain an army 
and navy so that it shall be ready for war. 
And that the only armed force on earth shall 
be under the direction of the central body. 
This is just plain horse sense. And it is 
the only conceivable way to avoid future 
wars. War is barbaric craziness;, federation 
is civilized intelligence. Only by federation 
is the whole world pledged to the inde¬ 
pendence and prosperity of each of the states 
thereof. 

“Federation is practical; it can be put in 
effect right now. 

“Federation mixes no confusing issues into 
the main question. In federation each nation 
may do as it pleases in its own territory. It 
can have a monarchy or a republic. It can 
enjoy rebellions, strikes and uprisings. Only 
it cannot attack another nation. That the 
world will attend to. Just as the Jones 
family may fight all they wish with one 
another in their own yard, but th§ state pro¬ 
hibits them from going over and beating up 
the Smiths.” 

Mr. Bryan has solved the peace question 
with his treaties. 

The Bryan treaties, all of which are built 
on the same plan, provide that all interna¬ 
tional disputes which diplomacy has failed to 
adjust are to be referred to an International 
Commission of five members, whose report 
shall be completed within one year, the con¬ 
tracting Powers reserving the right to act 
independently on the Commission’s report. 
Arbitrate, talk a year, do as you please—this 
is what these treaties mean. It is somewhat 
difficult to find a solution of the peace ques¬ 
tion in this peculiar arrangement. 

Your peace plan is practical but its reali¬ 
zation is too far off. 


33 


Pass the Rights of Nations and afterwards 
the Court of Nations resolutions in the 
American Congress, get the nations in and 
the work is finished. This can be done at 
any time. We have the votes or can easily 
get them. This is all of it. The track is 
laid and the engine and cars are on it. Get 
your ticket and get aboard. Don’t get left. 
No man can be indifferent to the manifest 
destiny of his race when he perceives that by 
the exercise of his own free will he may 
hasten the coming of that joyous event. 

Do you charge for tickets? 

This peace train is free and big enough to 
carry everybody but we have got to keep 
steam on the engine. The enterprise must be 
financed. If you ride in a parlor car, you are 
invited to buy a ticket, money returned to 
you multiplied many times when we reach 
the end of this journey. See prospectus in 
appendix. 

Nations always have fought and always 
will fight. 

Very well, let them fight. If $40,000,000,000 
of public debt won’t stop international war, 
perhaps $60,000,000,000 of public debt, or 
more, will stop it. Even this caravan of 
ciphers mgst have a limit. Can nations carry 
the load? If the war policy is continued 
what will be the price of English Consols, 
German Imperials, French, Russian and 
Italian rentes, Austrian and Japanese bonds, 
etc.? What will be the consequences of 
these prices? Practical men look to the 
issues of events. William Spencer Churchill, 
first lord of the admiralty, two years ago, 
declared: “A general war might plunge 
Europe almost, into the desolation of the 
middle ages. The only epitaph history could 
write on such a catastrophe would be this, 
that a whole generation of men went mad 
and tore themselves to pieces.” Our enter¬ 
prise is a rising, not a setting sun. 

Do you base the representation in the pro¬ 
posed Congress of Nations upon population? 

Not entirely, China would have too many. 


34 


It is proposed that the coefficient of represen¬ 
tation shall be based partly on numbers, 
partly on development and partly on other 
factors. We shall cross that bridge when 
we come to it. The solution of this ques¬ 
tion of representation, very properly, is left 
with the first Congress of Nations. 

We have arbitration now and want nothing 
more. 

The advantages of a Court of Nations over 
arbitration must be very evident. At the 
present time the arbitrator has no satisfac¬ 
tory law of nations by which to regulate his 
decisions. There are, it is true, many able 
and distinguished writers on the law of 
nations, but their views are not sanctioned 
by the united legislative act of nations and 
they do not agree even among themselves. 
The Hague and other conferences have 
started to perfect international law, but the 
work is not completed. Arbitrators cannot 
be expected to be so impartial as a Court 
of Nations composed of judges who are 
elected from several governments, devoted 
wholly to international subjects and acting 
under the consciousness that their decisions 
will be universally known, survive the present 
hour, and go down to posterity as the im¬ 
perishable monuments of wisdom or folly, of 
honor or disgrace. If the arbitration of an 
umpire is good the judgment of an author¬ 
ized Court of Nations is better. Arbitration 
is all right as far as it goes but it does not 
go far enough. The war of nations has 
killed arbitration. 

Amos S. Hershey, professor of interna¬ 
tional law in Indiana University, speaking of 
the present Hague Court, declares: “In the 
first place it is not even a Court, but rathef 
a panel or list of judges. The so-called Court 
is wanting in cohesion, continuity and inde-* 
pendence. Litigation is slow and expensive^ 
The formation of a system of international 
jurisprudence by such a means is manifestly 
impossible.” (Essentials of International 
Public Law, p. 334.) The same objection lies 


against the proposed Court of Arbitral Jus¬ 
tice. 

The present Arbitration Court at the 
Hague neither stops internatipnal war nor 
cuts down armaments. M. de Martens, Del¬ 
egate of Russia, father of the present Hague 
Court of Arbitration, declared at the last 
Conference: “We are agreed on one essential 
and indisputable fact, namely, that the pres¬ 
ent Permanent Court is not arranged as it 
should be. . . The Court of 1899 is but 

an idea which occasionally assumes shape 
and then again disappears.” (Hague Con¬ 
ferences, Vol. 1, p. 433.) The Boer War, the 
Russian-Japan War, the Italian-Turkish War, 
the Balkan War, have taken place since the 
Hague Court was established. The war of 
nations now is being waged. There does not 
appear to be the slightest evidence that the 
Hague Court stops war or has lessened the 
War Bills of nations. Arbitration is a failure. 

Herr von Bethmann Hollweg, Chancellor 
of the German Empire, declared in the 
Reichstag on March 30, 1911: “When vital 
antagonisms arise any arbitration treaty 
would burn like tinder. The condition of 
peaceableness is strength, the weak are the 
prey of the strong. A people that will not 
spend freely on armaments will sink and a 
stronger will take its place. We Germans 
in our exposed position are especially bound 
to look this rough reality frankly in the 
face.” 

The proposed Court of Nations resolution, 
it is submitted, answers this argument. If 
you want to fight, fight the whole world and 
make all the nations laugh. Here is a win¬ 
ner. 

General Horace Porter at Harvard College 
on March 6, 1908, spoke, in part, as follows: 
“In arbitration certain arbitrators are chosen 
by the parties to a litigation for the particu¬ 
lar case at issue; they are not judges of a 
permanent court; they receive their compen¬ 
sation from the litigants, are often inclined 
to act in a diplomatic rather than a judicial 

36 


capacity, and their decisions are frequently 
the result of a compromise which is not 
satisfactory to either party. Nations having 
ample power to maintain their contentions by 
force in a dispute object to submit questions 
seriously affecting them to the decision of 
mere arbitrators. 

“A world’s peace court would by its able, 
independent, and impartial decisions soon 
win the confidence of the nations and the 
codification of its decisions would in time 
create an international law that would be 
robbed of its present vagueness and given 
the quality of recognized validity.” 

The Honorable Elihu Root, in an address 
delivered at Washington, in December, 1910, 
at the Conference of the Society for the 
Judicial Settlement of International Dis¬ 
putes, spoke, in part, as follows: 

“Now, it has seemed to me very clear that 
in view of these practical difficulties standing 
in the way of our present system of arbitra¬ 
tion, the next step by which the system of 
peaceable settlement of international disputes 
can be advanced is to substitute for the kind 
of arbitration we have now, in which the 
arbitrators proceed according to their ideas 
of diplomatic obligation, real courts where 
judges, acting under the sanctity of the 
judicial oath, pass upon the rights of coun¬ 
tries as judges pass upon the rights of indi¬ 
viduals, in accordance with the facts as found 
and the law as established. ... I am 
sure that it is a step along the scientific and 
practical method of putting into operation 
all the principles that we have been preach¬ 
ing and listening to for so many years. It 
is practical, and I believe it will be effective.” 

Associate Justice Horace H. Lurton de¬ 
clared: “Everybody wants international war 
stopped; but how?” The arbitration plan 
seems to invite nations to vote away their 
independence, and neither the United States 
nor any other nation, prudently, can vote 
away its independence to mere arbitrators 
whose legal principles are not known and 


37 


whom no election can reach. The arbitra¬ 
tion plan, it is submitted, rapidly is being 
eliminated and the Congress and Court of 
Nations plan is supplanting it. Under this 
latter plan each nation retains its independ¬ 
ence. Each nation has the right of appeal, 
although it is unlikely that nations will find 
it necessary to make use of this right. The 
Court is a permanent one. Each nation 
knows before hand the fundamental law that 
will be applied by the judges to the hearing 
and adjudication of cases coming before the 
Court. The Congress of Nations controls an 
overwhelming military and naval force that 
may be used to discipline unruly States. We 
have here, it is claimed, a solution of the 
Peace Question. 

The Socialists, who neither believe in indi¬ 
vidual rights nor the rights of nations, and 
this is the basis of your plan, will beat your 
enterprise. 

Herbert Spencer, author of the philosophy 
of evolution, in 1893, declared: 

“My faith in free institutions, originally 
strong (though always joined with the belief 
that the maintenance and success of them 
is a question of popular character) has, in 
these later years, been greatly decreased by 
the conviction that the fit character is not 
possessed by any people, nor is likely to be 
possessed for ages to come. A nation, in 
which the legislators vote as they are bid 
and in which the workers surrender their 
rights of selling their labor as they please 
has neither the ideas nor the sentiments 
needed for the maintenance of liberty. Lack¬ 
ing them, we are on the way back to the 
will of the strong hand in the shape of the 
bureaucratic despotism of a socialistic organi¬ 
zation, and then of the military despotism 
which must follow it, if indeed, some social 
crash does not bring this last upon us more 
quickly.” 

“How long will the American republic 
endure?” asked Guizot, the historian, of 
James Russell Lowell. “As long as the prin- 

38 


ciples of the forefathers remain dominant,” 
was the reply. Elihu Root, ex-Senator of 
New York, at the Union League Club, Phila¬ 
delphia, recently declared: “The nation is 
facing a crisis as great as the civil war and 
will certainly go to ruin unless the business 
men of the country assert themselves.” 

The trouble is with the people themselves. 
They lack intelligence. Men are not yet 
sufficiently developed, many cannot tell dia¬ 
monds from glass, or righteousness from 
crime, too many wild men, savages, muckers, 
scoundrels, dastards, grafters, letter-openers, 
delators and mokes, a purposeless lot of mis¬ 
erable peasants with souls of mud. 

“We have not supposed men to be such 
as they ought to be, good, generous, disin¬ 
terested, and public spirited from motives of 
humanity, but, on the contrary, such as they 
really are, unjust avaricious, and more solic¬ 
itous for their private interest than for the 
public good. The only supposition which we 
have made is, that mankind have sense 
enough in general to know what is useful to 
them and fortitude enough to embrace the 
means of their own happiness.” 

(Abbe de St. Pierre.) 

“Does the human race, viewed as a whole, 
appear worthy of being loved or is it an 
object which we must look upon with repug¬ 
nance? ... Is human nature endowed 
with capacities from which we may infer that 
the species always will advance to a better 
condition, so that the evil of the present and 
past times will be lost in the good of the 
future? Under such a condition we may in¬ 
deed love the human race, when viewed as 
approaching the good, otherwise we might 
even despise or hate it. . For what is 

and remains bad, especially in the form of 
intentional and mutual violation of the holiest 
rights of man, cannot but be hated, what¬ 
ever efforts may be made to constrain the 
feeling of love towards it. Not that the dis¬ 
like of human evil would prompt us to inflict 
evil upon men, but it would at least lead us 


39 


to have as little to do with them as possible. 

If it is a spectacle worthy of a 
Divinity to see a virtuous man struggling 
with adversities and temptation, and yet hold¬ 
ing his ground against them, it is a spectacle 
most unworthy—I will not say of a Divinity, 
but even of the commonest well-disposed 
man—to see the human race making a few 
steps upwards in virtue from one period to 
another, and soon thereafter falling down 
again as deep into vice and misery as before. 

This is then the very movement of 
the stone of Sisyphus. . . . To gaze for 

a short while upon this tragedy, may be 
moving and instructive; but the curtain must 
at last be let fall upon it. For when pro¬ 
longed in this manner, it becomes a farce; 
and although the actors may not become 
weary, being fools, yet the spectator will 
become tired of it, having seen enough in 
one or two acts, where he has got grounds 
to infer that this play that never comes to 
an end is but an eternal repetition of the 
same thing. ... I will, therefore, ven¬ 
ture to assume that as the human race is 
continually advancing in civilization and cul¬ 
ture as its natural purpose, so it is continu¬ 
ally making progress for the better in rela¬ 
tion to the moral end of its existence, and 
that this progress although it may be some¬ 
times interrupted, will never be entirely 
broken off or stopped. 

’‘The cosmic evolution of nature is con¬ 
tinued in the historic development of Human¬ 
ity and completed in the moral perfection of 
the individual.” 

(Immanuel Kant.) 

“We daily make great improvements in 
natural, there is one I wish to see in moral 
philosophy—the discovery of a plan that 
would induce and oblige nations to settle 
their ^ disputes without first cutting one an¬ 
other’s throats. When will human nature be 
sufficiently improved to see the advantage 
of this?” 

(Benjamin Franklin.) 

40 


Perseverance of the saints is good doc¬ 
trine. “We therefore conclude that every 
man, whether his station be public or private, 
who refuses to lend his aid in bringing for¬ 
ward this plan of a Congress and Court of 
Nations, neglects his duty to his country, to 
the world, and to God and does not act con¬ 
sistently with the character of a statesman, 
philanthropist, or Christian.” (William Ladd, 
p. 634.) 

You give too many quotations. 

Is one to be murmured against because he 
calls up witnesses, the noble and great minds 
of all ages, to help prove his case? An 
American citizen, unquestionably, has the 
unalienable right, if he is able, to forge a 
legislative weapon that, when put in the 
hands of Americans, enables them, con¬ 
fidently and fearlessly, to face the Demon 
War and shout—Monster, thy days are num¬ 
bered! 

This. Congress and Court of Nations plan, 
combining the principles of the Declaration 
of Independence, the Constitution of the 
United States and the Monroe Doctrine, is 
believed to be not entirely without merit and 
so far developed that severe and intelligent 
criticism, which is invited, will perfect it. 

CONCLUSION 

If a serious attempt ever is to be made to 
bring international war into discredit and to 
substitute therefor an amicable mode of set¬ 
tling international disputes, what nation is 
more capable, what country more appropri¬ 
ate, to make the start than the country of 
Washington? The Americans now have the 
glorious opportunity to take the lead, put 
this invention into operation, and make it 
practically useful. The American plan pro¬ 
poses a general treaty to be entered into by 
all nations which shall provide that here¬ 
after nations shall agree to settle their inter¬ 
national disputes by an appeal to the law of 
reason and of right as becomes civilized men 
and not by an appeal to violence which more 
easily fits the wild beasts of the L—st and 

41 


that, when this machinery of a Court of 
Nations, a Congress of Nations and an In¬ 
ternational Army and Navy is set up, thence¬ 
forth the nations mutually and severally shall 
attempt to carry forward the natural and 
orderly evolution of human society and estab¬ 
lish such practical international legislative 
measures as permanently shall advance the 
peace, prosperity, and happiness of mankind, 
thus avoiding the burdensome expense, the 
moral corruption, the manifold crimes, the 
private suffering, the public calamities, the 
unmitigated miseries and all the gigantic and 
immense evils incurred and harbored by 
international war. William Ladd, in 1840, 
declared: “Some monarch, president or 

statesman, some moral Fulton, as great in 
ethics as he was in physics, will yet arise 
and complete this great moral machine so as 
to make it practically useful but improvable 
by coming generations. Before the fame of 
such a man your Caesars, Alexanders and 
Napoleons will hide their diminished heads 
as the twinkling stars of night fade away 
before the glory of the full-orbed king of 
day” (p. 578). 

The foregoing proposed resolutions, which 
are in practical shape for affirmative action 
by the American Congress, start this enter¬ 
prise. We are now endeavoring to obtain 
the enactment of a Great Proposal abolishing 
forever a barbarous and bloody institution 
and substituting therefor a system founded 
upon the principles of reason, justice and 
humanity, at present professed by all the 
civilized nations of the earth and the remedy 
is placed in their own hands. There seems 
to be a determination of mankind, as yet but 
partially crystallized, to improve their situa¬ 
tion in this particular and this antidote for 
national miseries, not entirely unskillful in 
its architecture, seems to have merits that 
entitle it to their patronage and, doubtless, 
will secure general adoption, being neither 
visionary in theory, unimportant in character, 
nor unattainable in result. 


42 


It is to be hoped that a proposition so 
practical, so inoffensive, so reasonable, so 
well-intended, aiming at the highest interests 
of humanity, will not be overlooked, but, on 
the contrary, will be recommended by those 
who are mutually vigilant for the happiness 
and tranquility of mankind, with such per¬ 
suasion to the Congress of the United States 
as to lead to statutory action. 

The opportunity here and now exists to 
translate into action the centuries of talk on 
the peace question. Who shall oppose this 
brilliant and practical design for the per¬ 
manent extinction of international war and 
the establishment of international peace, jus¬ 
tice, and popular happiness, when the good 
to be obtained by the success of the trial is 
commensurate only with the extent and dura¬ 
tion of the human race? Is it extravagant to 
suppose that when the foregoing Proposed 
Joint Resolution to establish a Court of 
Nations and a Congress of Nations and to 
provide for an International Army and Navy, 
is adopted by the American Congress, a 
recourse to arms between nations will be a 
thing unknown from that time forth and for¬ 
ever? 

James Brown Scott declares: “The means 
of warfare and the preparations for war will 
exist until a substitute for war be proposed 
that is not only reasonable in itself, but which 
is so reasonable that its' non-acceptance 
would be unreasonable.” Hague Conferences, 
(Vol. 1, p. 61.) The foregoing Proposed Joint 
Resolution seems to fit this requirement. 

However, if it should develop that the 
present Age is not sufficiently advanced in 
civilization to appreciate and support this 
simple and practical substitute for interna¬ 
tional war, or if the present Congress is so 
caught in the toils of a pusillanimous timid¬ 
ity that it dares not now act upon it, yet 
this resolution, founded upon the principles 
of Americanism, will live, and there are other 
years and other Congresses. This plan is in 
accord with the principles of evolution, and 


43 


nobody can stop evolution, although weak, 
mischievous., and criminal men, temporarily, 
may hinder or delay it. 

Long ago, Immanuel Kant, Germany’s 
greatest philosopher, in words that are final 
on this subject, declared: 

“Now, in point of fact, the Republican 
Constitution, in addition to the purity of its 
origin as arising from the original source of 
the conception of Right, includes also _ the 
prospect of realizing the desired object: 
Perpetual Peace among the nations. 

For if happy circumstances , bring it about 
that a powerful and enlightened people form 
themselves into a Republic, which by its 
very nature must be i disposed in favor of 
Perpetual Peace, this will furnish a center 
of federative union for other States to attach 
themselves to, and thus to secure the condi¬ 
tions of liberty among all States, according 
to the idea of the Right of Nations; and 
such a Union would extend wider and wider, 
in the course of time, by the addition of 
further connections of this kind. 

“But the social relations between the vari¬ 
ous people of the world, in narrower or 
wider circles, have now advanced everywhere 
so far that a violation of Right in one place 
of the earth is felt all over it. Hence the 
idea of a cosmopolitical Right of the whole 
human race is no phantastic or overstrained 
mode of representing Right, but is a neces¬ 
sary completion of the unwritten Code which 
carries national and international Right to a 
consummation in the Public Right of man¬ 
kind. Thus the whole system leads to the 
conclusion of a perpetual Peace among the 
nations, and it is only under the conditions 
now laid down that men may flatter them¬ 
selves with the belief that they are making 
a continual approach to its realization.” 


44 


PROSPECTUS 

OF 

THE AMERICAN 
MONEY ENTERPRISE 
Capital Stock, $5,000,000. 

Shares, $100 Each. 

The American Money Enterprise is an 
Association, the object of which is to estab¬ 
lish— 

First: The Money of the Constitution of 
the United States of America (hence its 
name). Second: A Court of Nations, ’ a 
Congress of Nations and to provide for 
an International Army and Navy. Third: 
Americanism, and so eliminate Socialism and 
Imperialism. Fourth: The American In¬ 
vestors’ Union, and for other purposes. 

ASSET NUMBER ONE 
THE MONEY OF THE CONSTITUTION 

We declare for the establishment of an 
international bimetallic monetary system 
through independent Congressional action. 
We adhere to the opinion of Daniel Webster 
—that gold and silver, at rates regulated by 
Congress, form the Constitutional and, there¬ 
fore, the legal standard’ of values in this 
country and that neither Congress nor any 
State has authority to establish any other 
standard or to displace this. We define 
Bimetallism as follows: Bimetallism requires: 

First—That 23.22 grains of pure gold shall 
be the money unit. 

Second—That the Secretary of the Treas¬ 
ury shall receive, on equal terms, all the 
gold and all the silver offered to him for 
conversion into money at the Treasury of 
the United States. 

Third—That every dollar produced there- 


45 


from, whether of gold, silver, or represent¬ 
ative paper, as a matter of fact, always shall 
be the equivalent of the unit at home and 
abroad; that the silver money produced, like 
the gold money, when presented at the 
respective sub-treasuries there to be estab¬ 
lished, always shall be capable of being con¬ 
verted, on demand, into the moneys of lead¬ 
ing foreign nations without loss; that is, at 
the par of exchange. 

Fourth—That the bonds of the United 
States shall be made payable in Standard 
money of the United States, and this expres¬ 
sion so used, or when used in any contract 
or other document, shall be interpreted to 
mean either gold unit dollars of the weight 
and fineness as explicitly set forth in section 
one of the bill hereafter referred to, or an 
amount of silver bullion equivalent in value 
thereto at the price (the then world’s price) 
as determined by the Secretary of the Treas¬ 
ury under the provisions of section seven of 
said bill, at the option of the payer. 

We propose to get bimetallism through 
the enactment of bills Nos. 2787 and 2788 
(or their equivalent) Fifty-fourth Congress 
respectively entitled, “A bill to establish a 
gold currency and a silver currency on a 
basis of interchangeable value throughout 
the world”, and “A bill to fix the denomina¬ 
tions of gold and silver coins to be issued 
by the United States and to establish the 
free coinage thereof”, which, when put in 
operation, will produce a monetary system 
in exact correspondence with the above 
definition.* 

We propose that the United States legal 
tender notes, the silver dollars, the Federal 
Reserve notes, and subsidiary coins shall be 
reorganized and harmonized with the above 
monetary system. 


*See Hearings before the Committee on Banking 
and Currency, 53rd Congress, 2nd session, June 15, 
1894, p. 475 to 532. 


46 



Bank note, like greenback, inflation dis¬ 
turbs the foreign exchanges. We advocate 
the policy of limiting the volume of bank 
notes. We advocate the policy of paying 
the national debt. 

We divide the Money Question into two 
parts, viz.: American Money and Bank Note 
Circulation. We declare that American 
money, the foundation upon which all busi¬ 
ness rests, first shall be made secure. We 
are not opposed to bank-note circulation, but 
regard its proper place in the national 
monetary system rather as an auxiliary to, 
than a substitute for, the national bimetallic 
full-covered currency. The bank note plans 
can wait. 

We favor individual and independent 
banking. We are opposed to the establish¬ 
ment of a Central Bank, Federal Reserve 
Banks, or any other similar project the 
manifest effect of which is a step toward 
Socialism. We declare that bank reserves 
should be strengthened. 

THE QUESTION IS ASKED, “HOW 
DOES THE MONEY OF THE 
CONSTITUTION BENEFIT 
ONE?” 

You cannot make money unless those with 
whom you do business are making money. 
Keep all the people employed and making 
profits, thus you can make profits. Con¬ 
sider this: All the commerce of the United 
States, including the vast credit operations 
of modern business, rests finally upon the 
money of the United States. A sound 
monetary system makes it easier for every 
person in the United States to make his 
living and increase his fortune, and this is 
practically what all the people are trying 
to do about all the time. The Money of the 
Constitution puts good money in your pocket, 
good clothes on your back, good fr »od on 

47 


your table, roofs over your head, a picture 
of George Washington on the wall and 
automobiles and steam yachts under your 
feet. 


CAUSES OF PANICS 
CIRCULATION STATEMENT, July 1, 1914 

Treasury Department, 

Office of the Secretary, 

Division of Loans and Currency. 
General Stock of Money in the United States 
July 1, 1914 

Gold Coin (including bullion in 

Treasury .. $1,890,678,304 

Standard Silver Dol¬ 
lars ..$565,834,263 

Subsidiary Silver. 182,315,863 

Treasury Notes of 1890 2,439,000 

United States Notes. 346,681,016 
National Bank Notes 750,671,899 
Total, Inferior Money $1,847,942,041 


Grand Total.$3,738,620,345 

The total of inferior money, which has 
been called “water,” is about one-half the cir¬ 
culating medium of the nation, every dollar 
of which, without the use of the gold reserve 
($150,000,000.00) is unavailable in the pay¬ 
ment of international debts. The monetary 
system of the United States, therefore, is 
weak and imperfect. Here is one cause of 
panics. “There is something inherently de¬ 
fective in the monetary system itself, which 
only can be remedied by a thorough over¬ 
hauling,” said Senator Julius C. Burrows, 
when temporary chairman of the Republican 
National Convention of 1908. 


48 







ACTUAL CASH IN TILL 

Against every $100 deposit on books of 
banks on or about June 30th of years given. 
Banks. 

C/3 



rt 


C/3 

be 

<u 

o 

§2 

c/3 <v 

bo 

aJ i-. 


o 

a 

£ 

State 

> 

in 

'> 

L 

PL, 

C/3 

<U 

> 

1905... 

$17.97 

$9.00 

$0.89 

$6.34 

$3.23 

$ 8.75 

1906... 

16.80 

8.30 

.79 

6.15 

3.49 

8.29 

1907... 

16.70 

8.28 

.78 

5.76 

4.93 

8.50 

1908... 

20.33 

10.51 

1.25 

6.71 

6.34 

10.70 

1909... 

19.20 

9.20 

.88 

5.74 

8.97 

10.34 

1910... 

16.37 

8.82 

1.25 

5.42 

8.46 

9.32 

1911... 

18.22 

8:52 

1.01 

5.05 

8.19 

9.77 

1912... 

17.10 

8.28 

1.02 

4.89 

7.68 

9.26 

1913... 

16.30 

7.99 

1.11 

5.05 

7.99 

8.93 

Bank 

reserves are 

thin 

and 

this narrow 

foundation of 

actual 

cash, 

upon 

which 

rests 


the entire credit structure of the national 
commerce, is not composed entirely of money 
of the highest quality. The Federal Reserve 
Act, Section 19, further weakens this narrow 
foundation of actual cash reserves. Two great 
causes there are of panics: First, an imper¬ 
fect monetary system; Second, weakness of 
bank reserves. If it is desired to eliminate 
panics, or to mitigate their severity, the 
causes which produce them must be over¬ 
come, and this is the exact thing which the 
American Money Enterprise proposes to do. 
It means great profits to you as a business 
man to put in operation a remedy that will 
eliminate or at least mitigate future panics. 
No more panics. We must have prosperity. 

THE REMEDY 

The American Money Enterprise presents 
a remedy that is simplicity itself, viz.: Follow 
the Constitution. Thus we know what we 
are doing. Establish an American Monetary 
System of Independent International Bi¬ 
metallism, in accordance with the Constitu¬ 
tional requirements and reorganize the silver 

49 



dollars, federal reserve notes, subsidiary coins 
and United States notes, thus you get a 
larger volume of money that is available as 
money of international payment, and this 
money can be used to strengthen bank re¬ 
serves and to correct the foreign exchange 
situation. When this is done, you are started 
on the road leading away from panics and 
leading toward business health, prosperity 
and progress. 

ADVANTAGE IN EXCHANGE 

China, a silver unit nation, the largest labor 
market in the world, possessing coal, iron, 
oil, gas and probably other resources that 
match, if they do not exceed, those of the 
United States, has an advantage in exchange, 
the effect of which is powerfully to stimulate 
her exports, and which rapidly is changing 
China into a vast factory. “This advantage 
in exchange, which is not understood or even 
mentioned in the discussions of our time, 
presently,” says Mr. James J. Hill, “will 
force itself unpleasantly upon the notice of 
other countries by the appearance in their 
home market of a competition with which 
they are unprepared to deal. The matter is 
becoming sufficiently urgent to call for their 
earnest consideration.” 

Now, the American Money Enterprise pre¬ 
sents a practical plan to correct and cure 
China’s advantage in exchange, and among 
other results, to save to American labor those 
reductions in wages and standards of living 
which are consequent upon China’s advan¬ 
tage in exchange, if, indeed, this is to be 
allowed to run on. 

“CAN YOU CARRY OUT THIS 
ENTERPRISE?” 

The success of this enterprise appears to 
be a certainty. Time only is required, and 
no man can stop time. The money question 
is working itself out by a process of elimina¬ 
tion. The greenback plan is eliminated. 
International agreement is eliminated. 16 to 
1, or any other fixed ratio plan is eliminated. 

50 


The Federal Reserve Act, it is submitted, is 
in process of elimination. The fatal and 
unanswerable objection to this plan is this— 
that the money arising under it is neither 
available in the payment of international 
debts nor for bank reserves. The present 
policy of Congress on the money question, 
it is submitted, cannot be successfully de¬ 
fended. Congress seems to say: “Half the 
money of the nation is weak and inferior, let 
us water it some more. Let us increase the 
volume of bank notes, now redundant, or 
establish a central bank or Federal Reserve 
Banks, and issue federal reserve notes or let 
us make some other kind of money that 
neither can be used in the payment of inter¬ 
national debts nor for bank reserves.” Con¬ 
gress, it seems certain, eventually will tire 
of this imprudent and dangerous policy and 
turn at last to the money of the Constitution. 
From the standpoint of High Finance, the 
Bryan plan (16 to 1) and the Federal Re¬ 
serve Act are quite similar. One waters the 
currency with silver dollars, the other with 
bank notes. 

WHAT IS THE FEDERAL RESERVE 
ACT? 

When the Wilson administration came into 
power, almost the first thing it did was to 
look around trying to find a Money Trust, 
and, not being able to locate a money trust 
thought it would start one and here it is. 
The “system” wins. The Federal Reserve 
Act seeks to unite some 23,000 banks into 
one enormous money trust to be run by 
seven Wall Street men who have the power 
to control all the money, all the credit, all 
the commerce, all the industry and even the 
government of the United States. Charles 
Fairchild, secretary of the treasury in the 
Cleveland administration, said to the writer 
in 1894: “The American people are not fit 
to rule themselves, the banks have got to do 
that for them.” This plan* constantly has 
been kept in view and this element at last 
has got what it wants. Some 7,500 national 

51 


banks already have joined the combination 
and the act is so arranged that the 14,000 
state banks and the 1,500 loan and trust com¬ 
panies can be driven in. Jas. A. Garfield 
declared: “Whoever controls the volume of 
money is absolute master of the commerce 
and industry of the nation.” The New 
Orleans resolutions of April, 1914, declare: 
“We foresee a plutocracy having at its com¬ 
mand the vast financial resources of the gov¬ 
ernment, using these resources to increase 
its power and to maintain its sway, a plu¬ 
tocracy dead to reason, blind to justice, 
scornful of the right.” Reginald Fenton 
declared: “The control of money is the 
ground upon which an international or cos¬ 
mopolitan combination finances the world 
and farfns humanity.” Alexander Del Mar 
declared: “The Emperors of Rome controlled 
the emissions of European money for thir¬ 
teen centuries and the Kings and Dukes for 
nearly four centuries afterwards; whilst the 
usurers have held it, to the present time, for 

about two centuries.Monetary systems 

have been changed from gold to silver and 
from silver to gold, and from both gold 
and silver to paper.and the entire prod¬ 

ucts of industry have been seized and per¬ 
verted to the enrichment of a class, who 
only know how to scheme, to undermine and 
to appropriate the earnings of mankind. The 
right to issue money needs a radical reform; 
and the state which reforms it first will 
secure for its citizens far greater advantages 
than can be derived from Zollvereins, tariff bills, 
or any other kind of commercial legislation.” 

The Federal Reserve Act, it is very evi¬ 
dent, saddles and bridles the American peo¬ 
ple and invites Wall Street to ride them. P. 
T. Barnum declared: “The people like to be 
fooled, in fact demand it.” However, there 
is another viewpoint, namely: The Ameri¬ 
can people are a wise lot, they want to try 
out all the weak financial plans first and 
eliminate them, then they will establish the 
money of the Constitution. 

52 




RECEIPTS FROM ASSET NUMBER 
ONE 

“WILL THE GOVERNMENT PAY?” 

This invention of the money of the Con¬ 
stitution is private property. The Govern¬ 
ment will pay. The co-ordinate branches of 
the Government are concluded by the Con¬ 
stitution, otherwise there is no government. 
The government, it is submitted, cannot 
afford to confiscate this invention, which is 
thoroughly protected by copyright laws 
enacted by itself. Receipts from this source 
will be distributed by the trustee pro rata 
among certificate holders. 

CONCLUSION 

The American Money Enterprise owns and 
controls the bills, that, when enacted by the 
Congress, will produce the money of the 
Constitution, a work of almost incalculable 
value to the American people, an invention 
comparable in value to the invention of the 
screw-propeller, the stove, the sewing-ma¬ 
chine, the match, the telegraph, the tele¬ 
phone, the electric car, or the Arabian sys¬ 
tem of numerals, and by means of its Capital 
Stock, opens a door to those who desire to 
help themselves along, better their fortunes 
and to enlist in a cause which proposes, in 
a practical manner, to accomplish the great 
result of placing the money of the United 
States abreast with its burdens, opportuni¬ 
ties and responsibilities, and untrammeled in 
the discharge of them. 

ASSET NUMBER TWO 

Proposed joint resolution inviting the Pow¬ 
ers to join the United States of America in 
establishing a Court of Nations, a Congress 
of Nations and to provide for an Interna¬ 
tional army and navy, hereinbefore set forth 
and explained in this, the fourth edition of 
this booklet. Copyright numbers of former 
editions are as follows: First edition, Feb. 
15, 1911, Class A, XXc, No. 282,574; Second 
edition, May 1, 1911, Class A, XXc, No. 287,- 

53 


459; Third edition, Feb. 19, 1913, Class A, 
XXc, 334,553. 

RECEIPTS FROM ASSET NUMBER 
TWO 

The several Peace Endowments, Carnegie, 
Rockefeller, Ginn, Nobel, Gaton and others 
produce about $4,700,000 per annum. The 
trustees of these funds, under the several 
deeds of trust, are required to expend the 
produce thereof for a certain definite pur¬ 
pose, viz.: The benefit of mankind and the 
peace of the world. The American Money 
Enterprise comes along and accomplishes 
the purpose which the founders of these 
several funds had in .view and, therefore, is 
entitled to receive from the trustees thereof 
the produce of such funds, at least for one. 
year and possibly for a longer period. Re¬ 
ceipts from these sources will be used by the 
Trustee of the American Money Enterprise to 
pay dividends upon its capital stock and to 
strengthen the value thereof. 

ASSET NUMBER THREE 

Proposed Joint Resolution to Establish 
Americanism. 

RESOLVED by the House of Representa¬ 
tives and the Senate of the United States of 
America, in Congress assembled: 

Section I. That the following is declared 
to be a fair statement of the principles of 
liberty upon which principles rest American 
law, the Federal Constitution and the con¬ 
stitutions of the several States. 

First. That all men, naturally, are free, 
equal and independent, as far as regards their 
rights, and so remain. 

Second. That these natural rights of indi¬ 
viduals are inherent and unalienable. 

Third. That among these rights are the 
rights of honor, life, liberty, property, repu¬ 
tation, conscience, and the pursuit of happi¬ 
ness. 

Fourth. That the Republic of the United 
States of America was instituted to secure 

54 


and protect the rights of individual men, 
women and children. 

Fifth. That governments derive their just 
powers from the consent of the governed. 

Sixth. That when any government becomes 
destructive of the Rights of Man, it is the 
right and duty of a free and independent 
people to reform, alter, amend, or abolish it. 

Seventh. That the enumeration of certain 
rights in clause three of this statement shall 
not be construed to deny or disparage certain 
other rights possessed by each individual. 

Sec. 2. And be it further resolved, as 
aforesaid: 

That the government and people of the 
United States, of necessity, are in deep sym¬ 
pathy with all peoples throughout the world 
who are struggling for liberty and who have 
established government, or who propose to 
establish government, based on the principles 
of liberty. 

Sec.. 3. And be it further resolved, as 
aforesaid: 

That the Congress recommends to the 
Legislatures of the several States that they, 
respectively, shall enact and apply the fore¬ 
going resolution. 

The principles of liberty are the truth for 
the reason that when negatively stated they 
must be false. So treated they may be 
expressed as follows: 

THE PRINCIPLES OF LIBERTY 
NEGATIVELY STATED 

First. That, by the law of nature, all men 
are slaves, unequal and dependerrt as far as 
regards their rights, and so remain. 

Second. That individuals have no inherent 
and unalienable rights. 

Third. That no man has the right of 

The above resolution was published in the Buffalo 
Express on Dec. 28th, 1899. Andrew Carnegie, to 
whom a copy of the resolution had been mailed, 
replied under date of Jan. 2, 1900, saying: “Mr. 

Carnegie thanks you for your note and thinks that 
something in the line you suggest will yet be 
necessary”. 


55 



honor, life, liberty, property, reputation, con¬ 
science, or the pursuit of happiness. 

Fourth. That the Republic of the United 
States, was not instituted to secure and pro¬ 
tect the rights of man. 

Fifth. That governments do not derive 
their just powers from the consent of the 
governed. 

Sixth. That when any government upholds 
the individual rights of honor, life, liberty, 
property, conscience, reputation, or the pur¬ 
suit of happiness, it should be reformed, 
altered, amended, or abolished. 

Seventh. That no man has any rights 
whatsoever. 

It is evident to every man, outside of the 
doors of the idiot asylum, that, when nega¬ 
tively stated, the principles of liberty cannot 
be true, therefore, when affirmatively stated, 
they must be and are the truth. Euclid laid 
down certain principles, which no man since 
has denied, save those who have renounced 
common sense, from the application of which 
principles he and his followers have drawn 
many valuable conclusions that are not so 
obvious to the human understanding. Simi¬ 
larly, attention is invited to the above demon¬ 
stration of American principles and their 
application to the solution of American ques¬ 
tions is respectfully recommended. Put 
short the principles of liberty read: You 
have the right of honor and so have I: You 

have the right of life and so have I: You 

have the right of liberty and so have I: You 
have the fight of property and so have I: 

You have the right of reputation and so have 

I: you have the right of conscience and so 
have I: You have the right to the pursuit of 
happiness and so have I—statements that are 
difficult to be denied, and no American denies 
them. Look at this. Leave Americanism 
and then, of necessity, you must take up 
with Imperialism, Socialism or at least with 
principles not Americanism. Here is the 
logic of it and the facts are following the 
logic. If the government only gets into the 

56 


Serbonian bog of Socialism deep enough it 
will never get out and so we shall lose for¬ 
ever the Great Design of the ages. 

Within recent years a band of “professors” 
have been spreading new errors in the world 
and have been turning the mind of youth 
against Americanism. Professor Woodrow 
Wilson, of Princeton, in his voluminous work 
on government entitled “The State” (656 
pages) does not mention the Declaration of 
Independence as far as the writer can find 
out. Professor Sumner, of Yale, declared 
the Declaration to be: “High sounding rodo¬ 
montade, glittering generalities.” Professor 
Barnett Wendel, of Harvard, declared that: 
“The revolution was fought to uphold a delu¬ 
sion and the rank and file of the Colonial 
army went down in rags to oblivion.” Pro¬ 
fessor J. E. Le Rossignal, of the University 
of Nebraska, declared: “We cannot be for¬ 
ever bound by the principles and rules they 
laid down.” Professor John W. Burgess, 
dean of Political Science in Columbia Uni¬ 
versity, in his work: “Political Science and 
Comparative Constitutional Law,” page 88, 
entirely repudiates the principles of liberty 
This man got the appointment as lecturer on 
American 'history and institutions at Berlin 
University in the Roosevelt chair. Prof. J. 
Allen Smith, of the University of Washing¬ 
ton, Seattle, in his recent work: “The Spirit 
of American Government,” attacks the Con¬ 
stitution of the United States on almost every 
page and quotes Burgess approvingly. The 
genuine American simply will not follow 
those who seem to be eager, anxious, willing 
to cover themselves with the slime of betray¬ 
ing their country that never can be washed 
off. Nicholas Murray Butler recently has 
declared: “There is underway in the United 
States at the present time a definite and 
determined movement to change our repre¬ 
sentative Republic into a social democracy. 

. In my judgment it transcends all pos¬ 
sible differences between historic parties: It 
takes precedence of all problems of a busi- 

57 


ness, a financial, or an economic character, 
however pressing, for it strikes at the very 
root of the government of the United States 
and at the principles upon which that gov¬ 
ernment rests.” (Why Should We. Change 
Our Form of Government? p. 4.) Senator 
Root recently has declared: “It seems to be 
the mission of the Republican party to reas¬ 
sert individual rights and to fight for them.” 

The late Senator Geo. F. Hoar, of Massa¬ 
chusetts, personally told the writer in Jan¬ 
uary, 1900, that the foregoing resolution could 
not be enacted in the American Congress. 
In fact he introduced a similar one which 
was voted down in the Senate. Affirmative 
action on this resolution would have forced 
McKinley to change his Philippine policy. 
The United States has no power or right to 
run colonies, and everybody knows it, yet 
we have them. Senator Hoar then declared: 
“The historian of the future will mark the 
beginning of the disintegration of the Ameri¬ 
can republic from the administration of Wm. 
McKinley.” This resolution, drawn from the 
Declaration of Independence, certainly can¬ 
not easily be passed now because of the con¬ 
sequences it tows along in its wake. Such 
action would force the complete reconstruc¬ 
tion or elimination- of many .so-called laws, 
for laws they are not which are contrary to 
Americanism. Among the laws affected 
would be those dealing with the Philippines, 
Porto Rico, Panama, the Federal Reserve 
Act, which certainly does not provide the 
money of the Constitution. There is no 
provision in that document for a political 
money trust to be run by seven Wall Street 
men. In short to affirm this resolution and 
to apply it would banish the policy of Im¬ 
perialism from and stop the growth of 
Socialism in the United States and in other 
directions, generally clean the legislative 
houses of the nation and of the several 
states.. 

Said Algernon Sidney: “Truth being uni¬ 
form in itself those who desire to Propagate 

58 


it for the good of mankind lay the founda¬ 
tions of their reasoning in such principles as 
are either evident to common sense or easily 
proved.” We know that the principles of 
liberty are the truth, that they are the soul 
of Americanism, that they form the basis and 
foundation of republican government, that 
they have guided all the genuine American 
statesmen of past generations; we also know, 
that, for the reasons hereinbefore set forth, 
it now would be extremely difficult to enact 
and apply them; thus it follows, that, during 
this peculiar situation of political affairs, the 
American flag derived from Washington’s 
coat of arms, the national songs, the various 
patriotic societies, Sons of the Revolution, 
Daughters of the Revolution, Colonial Dames, 
Grand Army of the Republic, seem to be 
meaningless; that Washington, Webster, Lin¬ 
coln, seem to have lived in vain, in short that 
there is no longer a genuine republic, only 
the resemblance of one, and, therefore, the 
necessity is shown for a restatement of 
American principles that they may be applied 
to the solution of public questions and so 
stop the disintegration, brighten the honor 
and restore the ancient integrity of the 
nation. 

RECEIPTS FROM ASSET NUMBER 
THREE 

The writer knows of no fund or endow¬ 
ment especially set aside to preserve Ameri¬ 
can principles, the priceless heritage be¬ 
queathed to us by the forefathers, but he 
does know of certain strange persons who 
seem to seek to become instrumental in 
accomplishing a vast destruction, who, every 
day, are giving aid and comfort to the 
enemies of Americanism and who are elected 
to public office and provided with livings. 
Why not start a company to preserve Ameri¬ 
canism? Here it is. The foregoing resolu¬ 
tion, short but powerful, may be used as a 
political tug boat to drag legislation around 
into American channels. It also may. be 


59 


used as a political submarine to blow up 
legislation hostile to Americanism. Either 
way, Americanism wins. 

ASSET NUMBER FOUR 

The American Investor’s Union is an 
extension of the idea originally brought out, 
and now being successfully carried on, in 
England by the companies named below. 
These companies are what is known as Col¬ 
lateral Trusts, that is to say, the money of 
the certificate holders of each trust is used 
as one sum to be invested among a large 
number of separate securities. . The market 
prices of the certificates of these Trusts 
follow: 

Quotations from London Economist, Mch. 
21, 1914. 

Preferred Ordinary 
Stock. 

Foreign and Colonial In¬ 
vestment Trust. 107 

Mercantile Investment and 

General Trust. 124*4 

Foreign, American and Gen¬ 
eral Trust . 107 

American Investment Trust. 10634 
Army and Navy Investment 

Trust . 105 

Bankers’ Investment Trust. 9734 
British Investment Trust... 10734 
Government Stocks Invest¬ 
ment, Lim. . 100 

Scottish - American Invest¬ 
ment Trust. 100 

Submarine Cables Investment 
Trust. 126 

Lord Justice James in commenting upon 
the deed of trust of one of these institutions 
which had invested several hundred thousand 
pounds among the stocks of thirteen cable 
companies, says: “The deed appears to me 
to be merely a trust deed of property for 
investment, the investment being spread over 
a number of different securities, so as to 
enable persons who choose to invest their 

60 


Stock. 

137 

105 

108 

14334 

174 

109 

265 

117 

114 









money in this way to avail themselves of 
that which, I believe, is one of the most 
ce'rtain things in the world, viz., what is 
called the doctrine of averages; that is to 
say, that if a large number of different inde¬ 
pendent securities are held together, the loss 
upon some will be compensated by the gain 
on the others, so that a tolerably uniform 
average rate of interest will be obtained. 
The object, and the legitimate object, of the 
persons who were invited to join in this 
company was to have an investment of their 
money under such circumstances that they 
might look to have a high dividend, with a 
very considerable security for the capital 
which they were investing in it.” (L. R. 15 
Ch. D., 247. 1880). 

SAFETY 

The American Investor’s Union secures 
safety in exactly the same nlanner as the 
above companies secure safety, namely, by 
becoming interested in a large number of 
separate individual securities, so that the 
Union will have for its security the whole 
business of the country. A certificate holder 
can thus be assured that his -money, as far 
as concerns loss arising from changes in 
price, is not subject to the accidents or muta¬ 
tions of any single stock or industry, but 
that his safety rests upon the commercial 
stability of the Nation. 

INCOME 

The American Investor’s Union obtains its 
income, firstly, from the dividends which 
these various securities pay, and secondly, 
from the fluctuations in price of each separ¬ 
ate security, which are utilized so that these 
also pay a profit. 

The American Investor’s Union, while ob¬ 
taining as great a degree of safety as the 
English Trusts above referred to, will far 
exceed these Trusts in dividend earning abil¬ 
ity. It is confidently believed that dividends 
will be paid upon the certificates of The 
American Investor’s Union at the rate of 
from 15 to 20 per cent per annum. 

61 


Certificates of the American Money Enter¬ 
prise are convertible, at the option of the 
holder, into common stock of the American 
Investor’s Union, when organized, at an 
equivalent price. 

The American Money Enterprise is not a 
stock selling proposition but is organized for 
the purpose of financing the Declaration of 
Independence, The Money of the Constitu¬ 
tion, a Court and Congress of Nations and 
The American Investor’s Union. A limited 
amount of the Capital Stock of the Enter¬ 
prise, which carries no liability and is unas- 
sessable, is now offered at 20 per cent of the 
par value thereof and the moneys received 
from this source will be accounted for and 
used in trust by the trustee for the purpose 
of carrying forward the above mentioned 
projects of the Enterprise to a successful 
end. The trustee reserves the right to ad¬ 
vance the price of the stock without notice 
and to refuse subscriptions. 

RODERICK H. SMITH, 

U. S. A. Trustee of the American 

Money Enterprise. 


COPYRIGHT LAW. 


Sec. 4. That the works for which copyright may 
be secured under this Act shall include all the writings 
of an author. 

Sec. 7. That the publication or republica¬ 

tion by the Government, either separately or in a pub¬ 
lic document, of any material in which copyright is 
subsisting shall not be taken to cause any abridge¬ 
ment or annulment of the copyright or to authorize 
any use or appropriation of such copyright material 
without the consent of the copyright proprietor. 

Sec. 42. That copyright secured under this or pre¬ 
vious Acts of the United States may be assigned, 
granted, or mortgaged by an instrument in writing, 
signed by the proprietor of the copyright, or may be 
bequeathed by will. 

Sec. 23. That the copyright secured by this Act 
shall endure for twenty-eight years. . . . and a 

renewal of twenty-eight years. 

62 


PRESS NOTICES 

The Money of Aldrich, Warburg & Co. or 
the Money of the Constitution? 

The money of the Constitution is offered 
as a substitute for and to supersede the 
Federal Reserve Act. 

THE EVENING SUN, NEW YORK. 

“The circulating medium of a commercial commun¬ 
ity must be that which is also the circulating medium 
of other commercial communities or it must be cap¬ 
able of being converted into that medium without loss. 
It must be able not only to pass in payments and re¬ 
ceipts among individuals of the same society and na¬ 
tion, but it also must be able to adjust and discharge 
the balance of exchanges between different societies 
and nations.” 

If Daniel Webster had never said anything else 
than the above, his reputation as a statesman might 
still stand good. To compare our national currency 
system with the ideal presented by him is as forcible 
a method as anjr of revealing in their full glare its de¬ 
fects and inconsistencies. We have a hybrid currency, 
consisting of seven forms of money, each one holding 
its own place in the public esteem, with differences 
of actual value amounting to nearly 40%. The pos¬ 
sibility of our circulating medium, with the exception 
of the gold portion of it, adjusting the balance of ex¬ 
changes with other nations, is never dreamed of. This 
currency question is as broad and as important a one 
as ever demanded human attention. It challenges the 
greatest statesmanship and the greatest intellects of 
the world. Succinctly stated, the proposition to be 
solved, and' which invites the attention of whomsoever 
will wrestle with it, is this: How to give to this coun¬ 
try a currency system which will provide that every 
dollar shall be the equal in value of every other dollar 
at home and abroad. 

The plan outlined below seems to be the best which 
has come before the public so far. Its author is Mr. 
Roderick H. Smith, who has embodied it in a Con¬ 
gressional bill. 

In the first place, it supplies the prime requisite, the 
sine qua non, of a sound currency. It lets the govern¬ 
ment out of the banking business. It makes the Gov¬ 
ernment, as it should be, and as our Constitution in¬ 
tended, merely an agent for such holders of gold or 
silver bullion as wish to have the same converted into 
money. It provides for the issue of Treasury notes 
for gold deposited, and also for the issue of Treasury 
notes for silver deposited. The notes are to be issued 
against the silver in accordance with its bullion value 
measured in gold. The gold notes are to be redeem¬ 
able at any time in gold, and the silver notes are to be 
redeemable at any time in silver only. The root of the 
whole plan lies in the terms for redeeming the silver 
notes. They are redeemable at all times in an amount 

63 


of silver bullion equal in gold value to the face of 
the note. Thus the silver notes are always at a par 
with gold, because they can always be redeemed in 
an amount of silver equal in value to the face of the 
note in gold. 

The simplicity of this plan is beautiful. The Gov¬ 
ernment becomes a mere passive agent, a storehouse 
for the deposit of bullion against which it issues cer¬ 
tificates of deposit. 

These few remarks give but a brief outline of the 
provisions of this bill, which seems, more than any 
other so far brought forward, to satisfy the demands 
of our Constitution and of sound financial laws. The 
dollars created under it would satisfy the requirement 
of Daniel Webster in the quotation cited above. They 
would be capable of conversion into the mediums of 
other commercial communities without loss. Provi¬ 
sion is made in the bill for the designation of agencies 
in other countries for the redemption of the notes. 

Thus a strong and simple currency system would be 
established. Up to the present time no idea has been 
brought forward which seems so fully to supply the 
demand of our people today, which is for a currency 
system that will provide that every dollar shall be the 
equal of every other dollar at home and abroad.— 
March 11, 1893. 

THE BUFFALO EXPRESS. 

“It seems to us that, instead of fighting for more 
double standard compromises, the friends of honest 
money should unite to secure the adoption of some 
sensible act like this.” — March 2, 1893. 

“Some ten years ago the Express frequently com¬ 
mended an idea on currency reform worked out by 
Roderick H. Smith of this city. Conditions have 
changed greatly since this idea was advanced, but time 
has again brought the country to a situation where 
there certainly is need for an increase in currency, 
and perhaps of basic currency.”—Dec. 18, 1907. 

WALL STREET JOURNAL. 

Mr. Roderick H. Smith is opposed both to gold 
and to silver monometallism. He proposes in place of 
either a plan of bimetallism. 

Mr. Smith argues that more foundation money is 
needed in order to hold up the credit and commerce 
of the country. Inasmuch as bimetallism would sus¬ 
tain a larger mass of credit than monometallism, he 
favors bimetallism. 

Mr. Smith’s argument is well worth reading, and 
if bimetallism is to be established without inter¬ 
national agreement then certainly Mr. Smith’s plan of 
conversion of silver into money at the market price is 
infinitely to be preferred to Mr. Bryan’s plan of silver 
at a fixed ratio of sixteen to one, which would practi¬ 
cally mean silver monometallism. — Dec. 13, 1907. 


64 








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